On average, listings lease in the $90's per square foot per year. The Downtown Menlo Park region is seeing a a rise in rates. In the last 3 months, the median rate rose $99 per sqft per year.
Compared to the rest of the Silicon Valley market, the Downtown Menlo Park submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 43% of the available space in the Downtown Menlo Park 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.
The standard measurement for office space in this area is around 540 sqft. Most buildings in this area are close to 2 floors. Most buildings in this area were built in 1969 and are Class B.
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 folk of Downtown Menlo Park work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.