The typical asking rate per listing is in the $10's per square foot per year. The Downtown Waterloo submarket is going through a decline in rates. In the last 3 months, the median rate decreased $32 per sqft per year. That's a 67% decrease in rent.
In the last 90 days, 6 listings have come on the market, which means new listings most likley are 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 4,700 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 4 stories. Most buildings in this market were built in 1957 and are Class C.
A large portion of this market is residential, but there's plenty of office_space. Professional services is the dominant industry in this region. Most of the occupants of Downtown Waterloo work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.