The typical asking rate per listing is in the $10's per square foot per year. The Mid-City Industrial region is seeing a decline in rates. In the last 3 months, the median rate decreased $108 per sqft per year. That's a 85% decrease in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 16 listings have been made available, which means listings might be going fast. You'll want to be prepared to make an offer immediately. 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 3,430 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 2 stories. Most buildings in this market were built in 1932 and are Class B.
Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Mid-City Industrial occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.