The typical asking rate per listing is in the $40's per square foot per year. The West Newport Beach region is seeing a an increase in rates. In the last 3 months, the median rate increased $45 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the West Newport Beach submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 1 listings have been posted online, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available space in the West Newport Beach are subleases, so you might be able to snag a great spot on a short term. 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 2,840 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 2 floors. Most buildings in this region were built in 1975 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 market. Commute by motorcycle is the most popular way to get to work amongst West Newport Beach folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.