The typical asking rate per listing is in the $10's per square foot per year. The Logan Park submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 26% decline in rent.
Compared to the rest of the Minneapolis market, the Logan Park region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 2 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available leases in the Logan Park 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 5,130 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 2 floors. Most buildings in this area were built in 1930 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Logan Park residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.