On average, listings lease in the $60's per square foot per year. The North Beach region is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the Bay Area market, the North Beach submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 27 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 15% of the office spaces in the North Beach are subleases, so you might be able to find a shorter term or below market rent. 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 2,680 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this market were built in 1908 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 region. Commute by taxi is the most popular way to get to work amongst North Beach folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.