The typical asking rate per listing is in the $20's per square foot per year. The Longfellow submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Minneapolis market, the Longfellow region has more expensive rates, and you'll need to make a great offer to be in this hot 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 tour spaces as quick as possible. 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 6,720 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are approximately 1 stories. Most buildings in this market were built in 1925 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Longfellow occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.