On average, listings lease in the $90's per square foot per year. The Ocean Park submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Ocean Park submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 5 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 40% of the available space in the Ocean Park 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,960 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 3 floors. Most buildings in this market were built in 1984 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the residents of Ocean Park work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.