The typical asking rate per listing is in the $20's per square foot per year. The North Ridge region is seeing a decline in rates. In the last 3 months, the median rate decreased $17 per sqft per year. That's a 44% decline in rent.
Compared to the rest of the Gold Coast market, the North Ridge region has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 30 listings have come on the market, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 10% of the listings in the North Ridge are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 890 sqft. Most properties in this region are approximately 2 floors. Most buildings in this market were built in 1982 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by car is the most popular way to get to work amongst North Ridge folk. 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 North Ridge.
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