The typical asking rate per listing is in the $70's per square foot per year. The Connecticut Avenue - K Street submarket is going through a an increase in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 7% increase in rent.
In the last 90 days, 22 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 86% of the listings in the Connecticut Avenue - K Street 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,990 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 11 floors. Most buildings in this region were built in 1971 and are Class A.
Finance and insurance are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Connecticut Avenue - K Street residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.