On average, listings lease in the $40's per square foot per year. The Neighborhood 2 region is going through a a boost in rates. In the last 3 months, the median rate went up $44 per sqft per year.
Compared to the rest of the Silicon Valley market, the Neighborhood 2 submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 1 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 100% of the available leases in the Neighborhood 2 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 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 840 sqft. Most properties in this region are close to 2 floors. Most buildings in this market were built in 1978 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Most of the occupants of Neighborhood 2 work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.