The typical asking rate per listing is in the $30's per square foot per year. The Northeast Portland region is seeing a decline in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 23% decline in rent.
Compared to the rest of the Greater Portland market, the Northeast Portland submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 3 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 133% of the office spaces in the Northeast Portland are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 9,040 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this region were built in 1931 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Northeast Portland residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.