The typical asking rate per listing is in the $20's per square foot per year. The Bala Cynwyd submarket is seeing a decline in rates. In the last 3 months, the median rate fell $29 per sqft per year. That's a 55% decline in rent.
Compared to the rest of the Philadelphia market, the Bala Cynwyd submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 11 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. 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 6,570 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this region were built in 1981 and are Class A.
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 public transit is the most popular way to get to work amongst Bala Cynwyd occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.