On average, listings lease in the $20's per square foot per year. The College Park region is going through a an increase in rates. In the last 3 months, the median rate increased $21 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Indianapolis market, the College Park submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 23 listings have come on the market, 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,150 sqft. Most buildings in this area are around 3 stories. Most buildings in this area were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst College Park folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.