The typical asking rate per listing is in the $20's per square foot per year. The Historic Third Ward submarket is going through a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 111% of the available leases in the Historic Third Ward are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,980 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are around 5 stories. Most buildings in this area were built in 1906 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 region. 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.