On average, listings lease in the $20's per square foot per year. The Monterey submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 9% decline in rent.
In the last 90 days, 19 listings have been made available, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,690 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this region were built in 1985 and are Class A.