The typical asking rate per listing is in the $40's per square foot per year. The Monterey Park submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $43 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Monterey Park submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 7 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 143% of the available leases in the Monterey Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,640 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 3 stories. Most buildings in this area were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Monterey Park folk. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.