Average rent of retail real estate in the U.S. 2023, by property type
Malls had the most expensive rental space among the different types of retail real estate in the United States in 2023. As of the fourth quarter of the year, the average rent in malls was 33.35 U.S. dollars per square foot, compared to 24.69 U.S. dollars for all retail. General retail space, defined as single-tenant freestanding commercial buildings with parking, such as drugstores, grocery stores, and street front urban retail stores, had some of the lowest vacancy rates.