The typical asking rate per listing is in the $20's per square foot per year. The Nora - Far Northside submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Indianapolis market, the Nora - Far Northside submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 19 listings have been listed, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 2,600 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Nora - Far Northside folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.