Downtown West Office Space

19 1st St S Space
Downtown West, Minneapolis, MN
Newly rehabbed office space available in downtown Minneapolis. This is a first floor office suite with three private offices. I'm looking to share the space (I only need one office) but am open to leasing the entire space if you're looking for more space. Two notes.... 1-There isn't a sink in the unit so unfortunately the space won't work for massage or similar businesses. 2-I'm open to hearing your thoughts on price but please let me know before we do a snowing. If you wanted to propose a different price than I've listed. Options for the space include: #1 - Entire suite - $1,850/mo. This includes all three offices and access to one parking spot for free. #2 - Large office - $750/mo This includes a larger private office, a small waiting area (big enough for a desk or workspace). This is the office at the end - and is a really great space with floor to ceiling windows. #3 - Middle office + access to common area - $500/mo This is the middle office in the diagram. No exterior window but there's a window into the office (overlooking the waiting area) which lets in good light. #4 - Smaller office + access to common area - $350/mo This is a small office without a window and the end of office in the diagram. This fee includes wifi, heat/AC, and electric. Cable or upgraded wifi is additional. Parking is available at $110/mo at a nearby lot and I can arrange this and include with rent. Ideally looking for 12 month lease, but I'm open to six month or shorter if that' helps. Realtors - happy to offer 3% commission if you bring a tenant.

Downtown West

Office Space Market Report

Number of Listings (last 90 days)
123
Median Rate ($/sqft/yr)
$22
Median Size (sqft)
3,978
As of: March 11, 2017

Downtown West Rates

The typical asking rate per listing is in the $20's per square foot per year. The Downtown West submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.

Compared to the rest of the Minneapolis market, the Downtown West region has greater rates, and you'll need to pay a premium to be in this hot submarket.

Downtown West Listing Supply

In the last 90 days, 123 listings have come on the market, so you'll want to check back regularly for new listings. About 2% of the available space in the Downtown West are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,978 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 12 floors. Most buildings in this area were built in 1962 and are Class B.

Downtown West Community

Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown West occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown West.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown West.
Research