On average, listings lease in the $20's per square foot per year. The Santa Cruz submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 7% decline in rent.
In the last 90 days, 4 listings have been made available, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 5,800 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are approximately 1 stories. Most buildings in this market were built in 1888 and are Class B.