The typical asking rate per listing is in the $50's per square foot per year. The Newport Beach region is seeing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 105 listings have been made available, so you'll want to check back regularly for new listings. About 74% of the listings in the Newport Beach 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.
Even though the median size is 2,730 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this area were built in 1979 and are Class B.
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 region. Commute by walking is the most popular way to get to work amongst Newport Beach occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.