Most listings are in the $20's per square foot per year. The Indianapolis region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Indianapolis market, the Indianapolis submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 266 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Indianapolis are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,490 sqft. Most properties in this area are around 2 floors. Most buildings in this market were built in 1927 and are Class B.