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The typical asking rate per commerial real estate listing leases is in the $60's per square foot per year. The Newport Beach region is experiencing a a rise in rates. In the last 3 months, the median rate for lease rose $8 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the Metropolitan Los Angeles commercial real estate market, the Newport Beach region has more expensive rates for rent, and you may have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 856 commercial real estate listings have come on the market, so you'll want to check back regularly for new listings. About 0% of the available commercial real estate space 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 available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 2,320 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this area were built approximately 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 market. Commute by walking is the most popular way to get to work amongst Newport Beach residents. 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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