Most listings are in the $10's per square foot per year. The Nicollet Island 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 6% decline in rent.
Compared to the rest of the Minneapolis market, the Nicollet Island submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 6 listings have been listed, which means spaces are probably 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 12,300 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 3 stories. Most buildings in this area were built in 1914 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Most of the residents of Nicollet Island work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.