The typical asking rate per listing is in the $20's per square foot per year. The Rio Grande submarket is going through a decrease in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 20% decrease in rent.
Compared to the rest of the Salt Lake City market, the Rio Grande submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 59 listings have been listed, so you'll want to check back regularly for new listings. About 7% of the available leases in the Rio Grande are subleases, so you will probably have to consider a longer term 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 4,550 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 7 floors. Most buildings in this area were built in 1950 and are Class B.
Information is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Rio Grande occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.