On average, listings lease in the $30's per square foot per year. The Monterey Arcadia region is going through a a rise in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 59% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Monterey Arcadia submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 15 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,270 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are around 2 stories. 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. Finance and insurance are the dominant industries in this market. Most of the occupants of Monterey Arcadia work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.