On average, listings lease in the $10's per square foot per year. The Downtown Lafayette submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 31% decrease in rent.
In the last 90 days, 10 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 30% of the office spaces in the Downtown Lafayette 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 890 sqft. Most buildings in this area are around 3 floors. Most buildings in this region were built in 1910 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Most of the folk of Downtown Lafayette work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.