On average, listings lease in the $20's per square foot per year. The Elmwood submarket is going through a a boost in rates. In the last 3 months, the median rate rose $7 per sqft per year. That's a 37% rise in rent.
Compared to the rest of the Greater New Orleans Region market, the Elmwood region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 12 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 158% of the available leases in the Elmwood are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,250 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this area were built in 0 and are Class A.