The typical asking rate per listing is in the $20's per square foot per year. The Central City submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Salt Lake City market, the Central City region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 32 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 66% of the listings in the Central City 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 3,160 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this market were built in 1978 and are Class B.
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 public transit is the most popular way to get to work amongst Central City occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.