On average, listings lease in the $20's per square foot per year. The Central Santa Cruz submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decline in rent.
In the last 90 days, 4 listings have been listed, which means new availabilities 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 Central Santa Cruz are subleases, so you might be able to snag a great spot on a short term. 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 5,800 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 3 floors. Most buildings in this area were built in 1967 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Central Santa Cruz occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.