On average, listings lease in the $20's per square foot per year. The Downtown Las Vegas submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Downtown Las Vegas submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 161 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the available space in the Downtown Las Vegas are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,590 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are approximately 2 stories. Most buildings in this area were built in 1963 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Las Vegas folk. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Downtown Las Vegas.
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