On average, listings lease in the $30's per square foot per year. The Old Courthouse submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Washington D.C. market, the Old Courthouse submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 17 listings have been posted online, which means leases might be going fast. You'll want to be prepared to make an offer immediately. 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 5,240 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 7 stories. Most buildings in this region were built in 1985 and are Class A.
This market is fairly equally mixed residential and commercial. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Old Courthouse occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.