How Much Can $10K A Month Rent In Office Space?
A new study done by CommercialCafe decided to see how large of an office space one could rent across the country for $10,000 a month. CommercialCafe — an information hub for CRE news and reports — compared 160 different markets across the United States and multiple different real estate grades.
Office spaces typically can be graded as anywhere from A-C. These classifications can be determined based on how old the building is, location and accessibility, amenities, the market and rental rates, how well the property is maintained, and infrastructure. For the sake of the study, the mostly focused on class B spaces or higher.
At the far ends of the spectrum, they discovered that the largest space one could get for that budget would be in Tulsa, Oklahoma at almost 7,700 square feet for a class B office space. While the smallest would be found in Manhattan at around 1,700 sq ft for class A.
Omaha landed 17th out of the 50 largest cities, with an average office space size of 4,890 sq ft for any property class, just behind St. Paul, MN with 4,933. For specifically class A, the study found their budget in Omaha would probably get closer to 4,379 sq ft.
For more information on the study by CommercialCafe, you can go to commercialcafe.com/blog/how-much-office-space-rent-10k-month/.
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