On average, listings lease in the $30's per square foot per year. The Downtown Nashville region is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Nashville market, the Downtown Nashville submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 28 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 4% of the listings in the Downtown Nashville are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 8,340 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are around 6 stories. Most buildings in this region were built in 1969 and are Class B.
This region is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this market. Most of the residents of Downtown Nashville work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.