Most listings are in the $50's per square foot per year. The Northeast Santa Monica submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $25 per sqft per year. That's a 30% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Northeast Santa Monica region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 4 listings have been made available, which means new listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,930 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 4 floors. Most buildings in this area were built in 1978 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 occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.