On average, listings lease in the $20's per square foot per year. The Monterey submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decline in rent.
In the last 90 days, 34 listings have been made available, which means spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 97% of the listings in the Monterey 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 1,840 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this market were built in 1979 and are Class A.