The typical asking rate per listing is in the $30's per square foot per year. The Old Town Chinatown region is seeing a an increase in rates. In the last 3 months, the median rate rose $36 per sqft per year.
Compared to the rest of the Greater Portland market, the Old Town Chinatown 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, 24 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 71% of the available space in the Old Town Chinatown 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,300 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 3 floors. Most buildings in this area were built in 1900 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 region. Most of the folk of Old Town Chinatown work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.