The typical asking rate per listing is in the $0's per square foot per year. The Newport submarket is going through a decline in rates. In the last 3 months, the median rate decreased $46 per sqft per year. That's a 100% decrease in rent.
In the last 90 days, 2 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the office spaces in the Newport 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 46,360 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 19 stories. Most buildings in this market were built in 1992 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Newport occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.