On average, listings lease in the $50's per square foot per year. The Newport Beach submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 856 listings have been made available, so you'll want to check back regularly for new listings. About 9% of the available leases in the Newport Beach are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,610 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this region were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Newport Beach folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Newport Beach.
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