On average, listings lease in the $20's per square foot per year. The Fifth Ward submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 22% increase in rent.
In the last 90 days, 7 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 57% of the office spaces in the Fifth Ward 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.
The standard measurement for office space in this area is around 1,600 sqft. Most properties in this area are approximately 2 floors. Most buildings in this area were built in 1996 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Most of the occupants of Fifth Ward work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.