On average, listings lease in the $10's per square foot per year. The Historic Third Ward region is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 19 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available space in the Historic Third Ward 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,640 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this market were built in 1913 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Utilities is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Historic Third Ward folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.