On average, listings lease in the $10's per square foot per year. The Iowa City submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 19% decline in rent.
In the last 90 days, 24 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available space in the Iowa City are subleases, so you will probably have to consider a longer term lease. 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 2,560 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this market were built in 1985 and are Class A.