On average, listings lease in the $20's per square foot per year. The Central City 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 3% decline in rent.
Compared to the rest of the Salt Lake City market, the Central City submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 33 listings have been made available, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 3% of the listings in the Central City are subleases, so you will probably have to consider a longer term 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 2,780 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 3 stories. Most buildings in this region were built in 1979 and are Class B.
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 market. Commute by public transit is the most popular way to get to work amongst Central City folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.