Lease Rent

[MrsNewMat]

How can I go about finding out the market rate for the rent/lease in my area? I am being charged about $15 per sq. ft. for my Mat and would like to find out if that's the going rate in the area.

Any direction or suggestion would be appreciated.

[ThePoetSuede]

I am not sure but in the new york area I was able to aquire 1800 sq ft in Manhattan for $2250/month. That's $15 a sq ft/annually or $1.25 sq ft/month. I negotiated 2% annual increases on a 15 year lease with a 5 year option. Details on the 5 year have not been negotiated yet. I am assuming this is a gross lease and therefore not responsible for property tax and such.

In the Manhattan area this seems to be an excellent price.
You should see what similar spaces are renting for in the area as a comparison.

The Poet Suede

[petefritz]

Simply drive around, look at for rent or for lease signs, then call and ask what the rent is If they ask what type of business, tell them a l'mat or a shoe store or something. That is the only way to price your market.