The typical asking rate per listing is in the $20's per square foot per year. The Avenue of the Arts South region is going through a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 35% rise in rent.
Compared to the rest of the Philadelphia market, the Avenue of the Arts South region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 18 listings have been listed, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the office spaces in the Avenue of the Arts South 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 2,700 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are around 17 stories. Most buildings in this area were built in 1914 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Avenue of the Arts South folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.