On average, listings lease in the $20's per square foot per year. The French Quarter - CBD region is experiencing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Greater New Orleans Region market, the French Quarter - CBD submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 26 listings have been listed, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 4% of the listings in the French Quarter - CBD are subleases, so you will probably have to consider a longer term lease. 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 2,770 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 4 floors. Most buildings in this market were built in 0 and are Class A.
This area is fairly equally mixed residential and commercial. Agriculture is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst French Quarter - CBD occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.