The typical asking rate per listing is in the $40's per square foot per year. The Downtown Waterloo submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $48 per sqft per year.
In the last 90 days, 4 listings have been posted online, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 9,570 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region were built in 1957.
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 market. Most of the residents of Downtown Waterloo work from home. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.