The typical asking rate per listing is in the $50's per square foot per year. The Long Island City submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 31% increase in rent.
Compared to the rest of the New York City market, the Long Island City submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 27 listings have been posted online, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. 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 8,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1930 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Long Island City residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.