Most listings are in the $20's per square foot per year. The Downtown Santa Cruz submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 10% decline in rent.
In the last 90 days, 5 listings have been listed, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 20% of the available leases in the Downtown Santa Cruz are subleases, so you might be able to snag a great spot on a short term. 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 5,800 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this market were built in 1967 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Santa Cruz residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.