On average, listings lease in the $20's per square foot per year. The Lake Biltmore Village submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Lake Biltmore Village region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 30 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,100 sqft. Most buildings in this region are around 2 stories. Most buildings in this area were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Lake Biltmore Village occupants. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.