The typical asking rate per listing is in the $30's per square foot per year. The South Old Courthouse submarket is going through a an increase in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 25% increase in rent.
Compared to the rest of the Washington D.C. market, the South Old Courthouse region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 25 listings have been made available, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 12% of the listings in the South Old Courthouse are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 6,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 3 floors. Most buildings in this market were built in 1985 and are Class B.
This area is fairly equally mixed residential and commercial. Education is the dominant industry in this area. Most of the occupants of South Old Courthouse work from home. Commuting around 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 South Old Courthouse.
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