On average, listings lease in the $20's per square foot per year. The Calhoun Isles submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Minneapolis market, the Calhoun Isles region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 45% of the available leases in the Calhoun Isles 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 11,000 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 1948 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Calhoun Isles folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.