The typical asking rate per listing is in the $20's per square foot per year. The West University submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $15 per sqft per year. That's a 37% decrease in rent.
Compared to the rest of the Greater Austin market, the West University region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 11 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 2,820 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this area were built in 1979 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by motorcycle is the most popular way to get to work amongst West University folk. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.