On average, listings lease in the $40's per square foot per year. The Old Town region is going through a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 20% decrease in rent.
Compared to the rest of the Washington D.C. market, the Old Town region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 42 listings have been listed, so you'll want to check back regularly for new listings. About 81% of the office spaces in the Old Town 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.
The standard measurement for office space in this area is around 1,750 sqft. Most buildings in this region are around 3 stories. Most buildings in this area were built in 1969 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Old Town occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.