The typical asking rate per listing is in the $30's per square foot per year. The Downtown Las Vegas region is seeing a decrease in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 28% decline in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Downtown Las Vegas region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have been made available, which means spaces are probably leasing quickly. 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 5,470 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this region were built in 1965 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Las Vegas residents. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.