On average, listings lease in the $40's per square foot per year. The Downtown Madison region is going through a a rise in rates. In the last 3 months, the median rate rose $12 per sqft per year. That's a 39% increase in rent.
In the last 90 days, 3 listings have been posted online, which means listings 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 250 sqft. Most buildings in this region are around 3 stories. Most buildings in this market were built in 1963 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Madison residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.