The typical asking rate per listing is in the $20's per square foot per year. The Highway Park submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 17% rise in rent.
Compared to the rest of the Greater New Orleans Region market, the Highway 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, 5 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,620 sqft. Most buildings in this market are close to 2 floors. Most buildings in this area were built in 0 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Highway Park residents. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.