On average, listings lease in the $20's per square foot per year. The Central Minneapolis submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline 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 undervalued submarket.
In the last 90 days, 357 listings have been listed, so you'll want to check back regularly for new listings. About 4% of the available leases in the Central Minneapolis 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 7,230 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 7 stories. Most buildings in this market were built in 1920 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Central Minneapolis residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.