On average, listings lease in the $10's per square foot per year. The Smithfield submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $18 per sqft per year.
Compared to the rest of the The Triangle market, the Smithfield region has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 9 listings have been posted online, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 111% of the office spaces in the Smithfield 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 170 sqft. Most buildings in this area are close to 1 floors. Most buildings in this market were built in 1995 and are Class B.