The typical asking rate per listing is in the $40's per square foot per year. The Old Town North submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $9 per sqft per year. That's a 24% rise in rent.
Compared to the rest of the Washington D.C. market, the Old Town North submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 10% of the available space in the Old Town North are subleases, so you will probably have to consider a longer term 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 2,700 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this region were built in 1987 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this market. Most of the folk of Old Town North work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.