The typical asking rate per listing is in the $20's per square foot per year. The Central City submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $6 per sqft per year. That's a 31% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Central City submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 26 listings have been listed, which means spaces might be leasing quickly. 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 4,870 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this area 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.