The typical asking rate per listing is in the $30's per square foot per year. The Northwest District submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $0 per sqft per year. That's a 0% increase in rent.
Compared to the rest of the Greater Portland market, the Northwest District submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 9 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the listings in the Northwest District are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,550 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are close to 3 stories. Most buildings in this area were built in 1956 and are Class A.
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 region. Most of the residents of Northwest District work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.