The typical asking rate per listing is in the $30's per square foot per year. The Washington Avenue - Memorial Park submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Houston Metro market, the Washington Avenue - Memorial Park region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have been posted online, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 33% of the available leases in the Washington Avenue - Memorial Park 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 9,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this market were built in 1983 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Most of the occupants of Washington Avenue - Memorial Park work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.