On average, listings lease in the $30's per square foot per year. The Washington Avenue - Memorial Park submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Houston Metro market, the Washington Avenue - Memorial Park submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 8 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available leases in the Washington Avenue - Memorial Park 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 2,240 sqft. Most buildings in this area are around 2 stories. Most buildings in this market were built in 1983 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Most of the folk of Washington Avenue - Memorial Park work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.