The typical asking rate per listing is in the $30's per square foot per year. The Central Austin submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $33 per sqft per year.
Compared to the rest of the Greater Austin market, the Central Austin region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 5 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 120% of the available leases in the Central Austin 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,200 sqft. Most properties in this market are around 3 stories. Most buildings in this region were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Central Austin occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.