On average, listings lease in the $10's per square foot per year. The Bonnabel Boulevard submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the Greater New Orleans Region market, the Bonnabel Boulevard submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 5 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 60% of the available leases in the Bonnabel Boulevard are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,900 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 2 stories. Most buildings in this region were built in 0 and are Class Class C.
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 market. Commute by walking is the most popular way to get to work amongst Bonnabel Boulevard occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.