On average, listings lease in the $10's per square foot per year. The The Highlands region is experiencing a decline in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Louisville market, the The Highlands region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 3 listings have been listed, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 33% of the available leases in the The Highlands are subleases, so you might be able to snag a great spot on a short term. 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 5,820 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 2 floors. Most buildings in this area were built in 1895 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Most of the folk of The Highlands work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.