On average, listings lease in the $20's per square foot per year. The Neartown - Montrose submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the Houston Metro market, the Neartown - Montrose submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 9 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 11,220 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 3 floors. Most buildings in this region were built in 1983 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Neartown - Montrose folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.