The typical asking rate per listing is in the $50's per square foot per year. The Melrose submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $53 per sqft per year.
Compared to the rest of the New York City market, the Melrose region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 6 listings have been posted online, which means listings most likley are going fast. 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.
Even though the median size is 4,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 4 floors. Most buildings in this region were built in 1931 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Melrose residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.