On average, listings lease in the $10's per square foot per year. The South Congress submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Greater Austin market, the South Congress region has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 1 listings have been posted online, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. 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 1,000 sqft. Most buildings in this market are close to 4 floors. Most buildings in this market were built in 1983 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst South Congress occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.