The typical asking rate per listing is in the $30's per square foot per year. The Old Town region is going through a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Washington D.C. market, the Old Town submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 29 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. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,150 sqft. Most properties in this market are approximately 4 stories. Most buildings in this region were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Old Town residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.