North Downtown Sublease

North Downtown

Office Space Market Report

Number of Listings (last 90 days)
3
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
3,000
As of: February 23, 2017

North Downtown Rates

On average, listings lease in the $30's per square foot per year. The North Downtown region is experiencing a a rise in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 44% increase in rent.

North Downtown Listing Supply

In the last 90 days, 3 listings have been made available, which means leases 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 3,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 5 stories. Most buildings in this area were built in 1925 and are Class A.

North Downtown Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by car is the most popular way to get to work amongst North Downtown occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in North Downtown.
Market Report

Market Data

Real time and historical data on commercial real estate listings in North Downtown.
Research

Charlottesville Submarkets