On average, listings lease in the $20's per square foot per year. The Norwood region is going through a a rise in rates. In the last 3 months, the median rate increased $28 per sqft per year.
Compared to the rest of the Gold Coast market, the Norwood region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 15 listings have come on the market, which means listings might be going fast. You'll want to be prepared to make an offer immediately. 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 1,130 sqft. Most properties in this area are around 5 stories. Most buildings in this market were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Most of the occupants of Norwood 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.