On average, listings lease in the $20's per square foot per year. The Norwood region is seeing a a boost in rates. In the last 3 months, the median rate rose $28 per sqft per year.
Compared to the rest of the Gold Coast market, the Norwood submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 15 listings have been listed, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 53% of the available leases in the Norwood are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,710 sqft. Most properties in this area are close to 5 floors. Most buildings in this area were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Most of the residents of Norwood work from home. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.