On average, listings lease in the $20's per square foot per year. The Lair Hill region is experiencing a a rise in rates. In the last 3 months, the median rate went up $21 per sqft per year.
Compared to the rest of the Greater Portland market, the Lair Hill submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 25 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 128% of the listings in the Lair Hill 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.
Even though the median size is 2,660 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this region were built in 1974 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Lair Hill residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.