Retail rents in uptown

[Lakelady]

I'm new to the forum & curious to know about retail/restaurant rents in the uptown area- more specifically, if I owned a remodeled 2 story house in the Routh street area - and wanted to lease to a restaurant &/or boutique, would there be a tenant market and at what monthly lease rate? Any info would be appreciated. :)

[Milkman Dan]

Retail rents in the area vary quite widely. First thing I would do is contact a broker and/or management company familiar with the uptown market. I can reccomend several if needed via PM. Besides making sure the structure is zoned and has all applicable commercial permits, you really need to know your target. There is a very big difference between a retail resturaunt and "pure" retail lease (boutique, etc). Without knowing anything specific about the house or location, I'd say rents could be anywhere from $28 to $45 / sqft + NNN. So... $35 to $50 at the very high end (a converted house in S-T won't get that, though)

Check out rentuptown.com and look at some of his offerings. The prices you see are fairly steep and not really reasonable in all cases, so just take note. Anything else, feel free to ask and I'll offer anything I can.