The typical asking rate per listing is in the $20's per square foot per year. The Westgate region is experiencing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Greater Austin market, the Westgate region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 4 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available leases in the Westgate are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,510 sqft. Most properties in this market are around 1 stories.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Most of the residents of Westgate work from home. Commuting close to 30 minutes 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 Westgate.
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