The typical asking rate per listing is in the $20's per square foot per year. The Capitol Hill region is going through a decrease in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 36% decline in rent.
Compared to the rest of the Salt Lake City market, the Capitol Hill region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 1 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 6,370 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 5 floors. Most buildings in this area were built in 1999 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Capitol Hill residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.