The typical asking rate per listing is in the $30's per square foot per year. The Pico Union submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $32 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Pico Union submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 6 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 50% of the available leases in the Pico Union 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 posted, so finding a space for a small business might be tough.
Even though the median size is 20,020 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this area were built in 1962 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Pico Union folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.