Most listings are in the $30's per square foot per year. The Old Town submarket is seeing a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Washington D.C. Area market, the Old Town region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 274 listings have come on the market, so you'll want to check back regularly for new listings. About 15% of the available leases in the Old Town 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,620 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 3 stories. Most buildings in this region were built in 1969 and are Class B.
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 market. Commute by public transit is the most popular way to get to work amongst Old Town occupants. Commuting between 20 and 25 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 Old Town.
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