On average, listings lease in the $30's per square foot per year. The Locust Valley submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $38 per sqft per year.
In the last 90 days, 1 listings have been listed, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,330 sqft. Most properties in this market are close to 1 floors. Most buildings in this market were built in 1986.
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 Locust Valley residents. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.