The typical asking rate per listing is in the $20's per square foot per year. The Northwest Raleigh region is experiencing a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 19% increase in rent.
Compared to the rest of the The Triangle market, the Northwest Raleigh submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 34 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 85% of the office spaces in the Northwest Raleigh are subleases, so you might be able to snag a great spot on a short term. 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 2,510 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 3 floors. Most buildings in this market were built in 1987 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Northwest Raleigh occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.