How Commercial Rent Is Quoted: Per Square Foot, Full-Service vs Modified Gross
Commercial rent is usually quoted in dollars per square foot per year — not as a simple monthly figure. To get the monthly rent, multiply the rate by the size of the space, then divide by 12.
For example, 1,000 square feet at $12 per square foot per year is $12,000 a year, or $1,000 a month. Once you know that formula, the next question matters more: what does the rate include?
- Full-service (FS, also called gross): the rate covers most operating costs of the building, such as property taxes, insurance, and common-area upkeep. Your monthly payment is close to your total cost for the space itself.
- Modified gross (MG): the rate covers some costs, but you share others — for example, your own utilities or a share of common-area maintenance. Your total cost is the rent plus those shared items.
- Triple net (NNN): you pay a base rent plus your share of property taxes, building insurance, and maintenance on top. The base rate looks lower, but the added charges are part of your real cost.
That is why two spaces at the same rate can cost very different amounts. A higher full-service rate may end up costing less overall than a lower rate that leaves taxes, insurance, and maintenance for you to pay separately.
You can see both patterns in local listings. Space at 33595 Bainbridge Rd, Solon is quoted at $15 per square foot per year, full-service. Space at 26943 Westwood Rd, Westlake is quoted at $8–$14 per square foot per year, modified gross — so the final cost there depends on which added items apply to the space you take.
Before you compare spaces
Ask, in writing, what the quoted rate includes and what you will pay on top of it. Compare the full monthly total for each space, not the headline rate alone.
Looking for commercial space?
Contact us or book a call — we will walk through what a quoted rate really covers before you compare spaces.
