On average, listings lease in the $20's per square foot per year. The Downtown Salt Lake City submarket is going through a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Salt Lake City market, the Downtown Salt Lake City region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 49 listings have been posted online, so you'll want to check back regularly for new listings. About 18% of the listings in the Downtown Salt Lake City 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,690 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 6 floors. Most buildings in this market were built in 1975 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Health care is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Salt Lake City occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.