On average, listings lease in the $20's per square foot per year. The Central Minneapolis submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Minneapolis market, the Central Minneapolis region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 1781 listings have come on the market, so you'll want to check back regularly for new listings. About 17% of the office spaces in the Central Minneapolis are subleases, so you might be able to find a shorter term or below market rent. 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 4,160 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 6 floors. Most buildings in this area were built in 1919 and are Class B.
This area is fairly equally mixed residential and commercial. Waste services is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Central Minneapolis residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Central Minneapolis.
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