The typical asking rate per listing is in the $20's per square foot per year. The North Ironbound submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $29 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Newark Metro market, the North Ironbound submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 1 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 22,600 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 3 floors. Most buildings in this market were built in 1992 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Most of the residents of North Ironbound work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.