The typical asking rate per listing is in the $30's per square foot per year. The Monterey Arcadia submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $11 per sqft per year. That's a 46% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Monterey Arcadia region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 3,960 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this region were built in 1983 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the occupants of Monterey Arcadia work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.