You are seriously considering retail space for lease, but you don’t know if you can afford it, or if this is a good time to consider retail space for rent. Perhaps we can help you with that decision. We are RDS Real Estate, serving the Greater Fort Worth Metro area with outstanding commercial property for rent. Our leasing agents live and breath commercial property, and what follows is their professional opinion about retail space for lease.
The cost of retail space for lease
There is no simple answer to the question “what does retail space for lease cost?” Retail lease space, and the cost of, will depend upon the particular area and the health of the economy at any given time. You will generally find the price listed as “per square feet, yearly,” but what does that mean?
Simply stated, you can expect to pay $2000-$3000 per month in desired areas of Fort Worth for retail lease space. For sure, you can find properties for less, but they are not in desired, high-traffic locations.
Having said all that, we can show you retail space for rent, in the wildly-popular Fort Worth Design District, which costs less than $1000 per month for 320 square feet of quality retail space. Granted, that low price is an anomaly for the Fort Worth area, but still, it is possible to find great deals if one is patient.
Is this a good time for the economy?
In our professional opinion, now is the time to commit to commercial property for lease. The economy is down, many in the business community are uncertain what to do next, and prices reflect this uncertainly. Having said that, this is a temporary state. We do believe the economy will rebound, and that rebound leads to the next segment of this discussion.
Will prices rise?
Most definitely, YES, prices will rise, and we expect them to rise by 2023. How much is pure conjecture, but we are certain that commercial and industrial prices will see an increase by summer of next year.
Do the math for your situation
There is no fixed rule regarding the percentage of your total budget rent should be. If pressed, we would say somewhere in the neighborhood of seven percent, but we have known healthy retail businesses which have done quite well paying upwards of twenty percent in rent; conversely, we have known businesses which only pay three percent of their budget in rent.
The bottom line is this: your business is your business. Only you can determine what your projected sales are, and what your budget can handle with regards to rent. Find the best location for your particular business, determine whether you are comfortable with the rent asked for, and make your decision.
A final word about RDS Real Estate
RDS Real Estate is locally owned and operated, and we have hundreds of commercial and industrial properties for rent in Tarrant County. Call us and ask us about the Fort Worth Design District, composed of Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. It is located in the Alliance Area of North Fort Worth, and it is the fastest-growing commercial and industrial area in all of Tarrant County.