The typical asking rate per listing is in the $20's per square foot per year. The Downtown Indianapolis submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Indianapolis market, the Downtown Indianapolis region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 68 listings have been listed, so you'll want to check back regularly for new listings. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,450 sqft. Most properties in this area are close to 8 stories. Most buildings in this region were built in 1918 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Education is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Indianapolis residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.