On average, listings lease in the $10's per square foot per year. The Mid-City Industrial submarket is going through a decline in rates. In the last 3 months, the median rate decreased $108 per sqft per year. That's a 85% decline in rent.
Compared to the rest of the Minneapolis market, the Mid-City Industrial submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 17 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 3,840 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this region were built in 1932 and are Class B.
Construction is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Mid-City Industrial residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.