On average, listings lease in the $20's per square foot per year. The Far Eastside submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $83 per sqft per year. That's a 78% decline in rent.
Compared to the rest of the Indianapolis market, the Far Eastside submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 14 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 14% of the listings in the Far Eastside 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,170 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are close to 1 stories. Most buildings in this region were built in 1920 and are Class 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 public transit is the most popular way to get to work amongst Far Eastside occupants. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.