Most listings are in the $30's per square foot per year. The Downtown Madison submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $8 per sqft per year. That's a 30% increase in rent.
In the last 90 days, 19 listings have been listed, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. 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 4,170 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 3 stories. Most buildings in this area were built in 1958 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Madison folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.