On average, listings lease in the $20's per square foot per year. The Highway Park submarket is seeing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Greater New Orleans Region market, the Highway Park region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 1 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 820 sqft. Most properties in this area are approximately 2 stories. Most buildings in this market were built in 0 and are Class Class B.
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. Commute by car is the most popular way to get to work amongst Highway Park residents. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.