On average, listings lease in the $40's per square foot per year. The Central City region is going through a a rise in rates. In the last 3 months, the median rate rose $19 per sqft per year. That's a 72% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Central City region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 26 listings have been listed, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 13,160 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1972 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Central City occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.