The typical asking rate per listing is in the $10's per square foot per year. The Penn American District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 10% decrease in rent.
In the last 90 days, 1 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,620 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 5 floors. Most buildings in this region were built in 1985 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Most of the occupants of Penn American District work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.