On average, listings lease in the $20's per square foot per year. The Northeast Boca Raton submarket is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decrease in rent.
Compared to the rest of the Gold Coast market, the Northeast Boca Raton region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 5 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 100% of the listings in the Northeast Boca Raton 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,420 sqft. Most properties in this market are close to 3 floors. Most buildings in this area were built in 1986 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Most of the residents of Northeast Boca Raton work from home. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.