On average, listings lease in the $20's per square foot per year. The Downtown Galveston region is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Houston Metro market, the Downtown Galveston region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 15 listings have been listed, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,290 sqft. Most buildings in this region are around 2 floors. Most buildings in this area were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Galveston occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.