The typical asking rate per listing is in the $20's per square foot per year. The Nora - Far Northside submarket is seeing a an increase 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 more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have come on the market, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 74% of the listings in the Nora - Far Northside are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,870 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 2 stories. Most buildings in this market 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 area. Commute by walking is the most popular way to get to work amongst Nora - Far Northside residents. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.