On average, listings lease in the $40's per square foot per year. The Sunset Park submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Sunset Park submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 14 listings have come on the market, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 7% of the available space in the Sunset Park are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this region are around 2 stories. Most buildings in this area 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. Arts, entertainment, and restaurants are the dominant industries in this market. Most of the occupants of Sunset Park work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.