The typical asking rate per listing is in the $10's per square foot per year. The Louisville submarket is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Louisville market, the Louisville region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 59 listings have been listed, so you'll want to check back regularly for new listings. About 2% of the listings in the Louisville are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,190 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 2 stories. Most buildings in this area were built in 1880 and are Class B.