The typical asking rate per listing is in the $20's per square foot per year. The College Commons region is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 15% decline in rent.
Compared to the rest of the Indianapolis market, the College Commons submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 7 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 71% of the listings in the College Commons are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,960 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 3 floors. Most buildings in this area were built in 1979 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. Most of the residents of College Commons work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.