Old Town Chinatown Office Space

Old Town Chinatown

Office Space Market Report

Number of Listings (last 90 days)
24
Median Rate ($/sqft/yr)
$29
Median Size (sqft)
4,200
As of: July 22, 2017

Old Town Chinatown Rates

The typical asking rate per listing is in the $20's per square foot per year. The Old Town Chinatown region is going through a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 19% decrease in rent.

Compared to the rest of the Greater Portland market, the Old Town Chinatown region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.

Old Town Chinatown Listing Supply

In the last 90 days, 24 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 29% of the listings in the Old Town Chinatown 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 posted, so finding a space for a small business might be tough.

Even though the median size is 4,200 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are close to 3 floors. Most buildings in this area were built in 1900 and are Class B.

Old Town Chinatown Community

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 market. Most of the folk of Old Town Chinatown work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Old Town Chinatown.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Old Town Chinatown.
Research