On average, listings lease in the $20's per square foot per year. The Central City region is experiencing a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Salt Lake City market, the Central City submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 14 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 7% of the available space in the Central City are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,280 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 4 stories. Most buildings in this market were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst Central City occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.