On average, listings lease in the $20's per square foot per year. The Downtown Fredericksburg submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $26 per sqft per year. That's a 52% decline in rent.
Compared to the rest of the Washington D.C. market, the Downtown Fredericksburg submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 10 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 90% of the available space in the Downtown Fredericksburg are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,120 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region were built in 1889 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Fredericksburg residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.