The typical asking rate per listing is in the $40's per square foot per year. The Downtown Chapel Hill region is going through a a rise in rates. In the last 3 months, the median rate increased $16 per sqft per year. That's a 56% rise in rent.
Compared to the rest of the The Triangle market, the Downtown Chapel Hill submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 4 listings have been made available, which means office spaces might be going fast. 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 10,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 9 stories. Most buildings in this area were built in 2008 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Downtown Chapel Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.