On average, listings lease in the $20's per square foot per year. The River Market region is experiencing a a rise in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Kansas City market, the River Market submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 10 listings have been made available, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 30% of the available space in the River Market are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,980 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this market were built in 1916 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst River Market residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.