On average, listings lease in the $40's per square foot per year. The Old Town submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 9% increase in rent.
Compared to the rest of the Washington D.C. market, the Old Town region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 48 listings have come on the market, so you'll want to check back regularly for new listings. 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 2,910 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 4 stories. Most buildings in this region were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Old Town residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.