On average, listings lease in the $30's per square foot per year. The Old Town North submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 16% decrease in rent.
Compared to the rest of the Washington D.C. market, the Old Town North region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 5 listings have been listed, which means leases are probably leasing quickly. 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 2,620 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this area were built in 1987 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Most of the occupants 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.