The typical asking rate per listing is in the $10's per square foot per year. The Central City submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 29% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Central City region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 46 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the office spaces in the Central City are subleases, so you will probably have to consider a longer term lease. 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 3,880 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 3 stories. Most buildings in this market were built in 1972 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Central City occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.