On average, listings lease in the $70's per square foot per year. The Ocean Park submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $12 per sqft per year. That's a 18% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Ocean Park submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 37 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available leases in the Ocean Park 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.
The standard measurement for office space in this area is around 960 sqft. Most buildings in this region are close to 2 floors. Most buildings in this area were built in 1958 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Most of the folk of Ocean Park work from home. Commuting between 30 and 45 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 Ocean Park.
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