On average, listings lease in the $20's per square foot per year. The Central Minneapolis submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Minneapolis market, the Central Minneapolis submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 354 listings have been made available, so you'll want to check back regularly for new listings. About 4% of the available space in the Central Minneapolis are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 7,162 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 7 floors. Most buildings in this area were built in 1920 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Central Minneapolis residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.