The typical asking rate per listing is in the $20's per square foot per year. The Lake Elmo submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 13% rise in rent.
In the last 90 days, 19 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 42% of the office spaces in the Lake Elmo are subleases, so you might be able to find a shorter term or below market rent. 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 2,730 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this market were built in 2002 and are Class B.