The typical asking rate per listing is in the $40's per square foot per year. The Old West Austin submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $10 per sqft per year. That's a 31% increase in rent.
Compared to the rest of the Greater Austin market, the Old West Austin submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 5 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 40% of the available space in the Old West Austin 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market were built in 1962 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by motorcycle is the most popular way to get to work amongst Old West Austin folk. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.