The typical asking rate per listing is in the $0's per square foot per year. The Hiawatha submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $18 per sqft per year. That's a 100% decline in rent.
In the last 90 days, 11 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 36% of the listings in the Hiawatha are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 2,970 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 1 floors. Most buildings in this market were built in 2005.