Most listings are in the $50's per square foot per year. The Northeast Santa Monica submarket is going through a decline in rates. In the last 3 months, the median rate decreased $25 per sqft per year. That's a 30% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Northeast Santa Monica region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 4 listings have been posted online, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,930 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 4 stories. 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. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Northeast Santa Monica residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.