On average, listings lease in the $80's per square foot per year. The Northeast Santa Monica submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $16 per sqft per year. That's a 24% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Northeast Santa Monica submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 25% of the listings in the Northeast Santa Monica are subleases, so you might be able to find a shorter term or below market rent. 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 4,450 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 4 stories. Most buildings in this market were built in 1992 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Northeast Santa Monica residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.