On average, listings lease in the $20's per square foot per year. The Downtown Indianapolis submarket is going through a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 6% 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, 116 listings have been made available, so you'll want to check back regularly for new listings. About 2% of the listings in the Downtown Indianapolis are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,950 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 8 stories. Most buildings in this market were built in 1921 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Indianapolis occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.