Most listings are in the $20's per square foot per year. The Indianapolis region is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Indianapolis market, the Indianapolis region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 276 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Indianapolis are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this market are around 2 stories. Most buildings in this region were built in 1927 and are Class B.