On average, listings lease in the $20's per square foot per year. The Norwood submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $28 per sqft per year.
Compared to the rest of the Gold Coast market, the Norwood submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 15 listings have been made available, which means spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 53% of the available space in the Norwood are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,710 sqft. Most buildings in this region are close to 5 stories. Most buildings in this area were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Most of the folk of Norwood work from home. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.