On average, listings lease in the $20's per square foot per year. The Northeast Raleigh submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $22 per sqft per year.
Compared to the rest of the The Triangle market, the Northeast Raleigh region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 38 listings have been posted online, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 58% of the listings in the Northeast Raleigh 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.
Even though the median size is 3,230 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 2 stories. Most buildings in this region were built in 1988 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 region. Commute by public transit is the most popular way to get to work amongst Northeast Raleigh occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.