The typical asking rate per listing is in the $20's per square foot per year. The Indianapolis region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the Indianapolis market, the Indianapolis submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 435 listings have been listed, so you'll want to check back regularly for new listings. About 57% of the listings in the Indianapolis are subleases, so you might be able to find a shorter term or below market rent. 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 3,540 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 2 stories. Most buildings in this area were built in 1960 and are Class B.