The typical asking rate per listing is in the $50's per square foot per year. The Koreatown-Northgate submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $53 per sqft per year. That's a Inf% increase in rent.
Compared to the rest of the East Bay market, the Koreatown-Northgate submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 6 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available leases in the Koreatown-Northgate are subleases, so you might be able to find a shorter term or below market rent. 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 3,560 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are approximately 2 floors. Most buildings in this market were built in 1957 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Koreatown-Northgate occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.