On average, listings lease in the $20's per square foot per year. The Mill Park region is experiencing a an increase in rates. In the last 3 months, the median rate increased $21 per sqft per year.
Compared to the rest of the Greater Portland market, the Mill Park submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 1 listings have been made available, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 200% of the available leases in the Mill Park 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 300 sqft. Most properties in this area are approximately 2 stories. Most buildings in this region were built in 1980 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst Mill Park residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.