The typical asking rate per listing is in the $20's per square foot per year. The Rio Grande submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Salt Lake City market, the Rio Grande submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 45 listings have come on the market, so you'll want to check back regularly for new listings. About 11% of the available space in the Rio Grande are subleases, so you might be able to find a shorter term or below market rent. 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 5,710 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 7 stories. Most buildings in this region were built in 1950 and are Class B.
Information is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Rio Grande residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.