The typical asking rate per listing is in the $20's per square foot per year. The Downtown Indianapolis region is going through a an increase in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Indianapolis market, the Downtown Indianapolis submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 176 listings have come on the market, so you'll want to check back regularly for new listings. About 27% of the available space in the Downtown Indianapolis are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 4,880 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 8 stories. Most buildings in this market were built in 1923 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Indianapolis residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.