On average, listings lease in the $30's per square foot per year. The Old Town North submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Washington D.C. market, the Old Town North submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 4 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 150% of the available space in the Old Town North 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,480 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this area were built in 1987 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Most of the occupants of Old Town North work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.