On average, listings lease in the $20's per square foot per year. The Downtown Sioux Falls submarket is going through a a boost in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 31% increase in rent.
In the last 90 days, 6 listings have been listed, which means leases most likley are going fast. 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 3,770 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this market were built in 1935 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Most of the residents of Downtown Sioux Falls work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.