On average, listings lease in the $20's per square foot per year. The Downtown Las Vegas submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Downtown Las Vegas submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 18 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 72% of the available leases in the Downtown Las Vegas 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 2,590 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this market were built in 1963 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Las Vegas occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.