On average, listings lease in the $30's per square foot per year. The Downtown Fargo submarket is going through a an increase in rates. In the last 3 months, the median rate rose $11 per sqft per year. That's a 50% rise in rent.
In the last 90 days, 5 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 20% of the available leases in the Downtown Fargo 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 2,740 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 1986.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Most of the residents of Downtown Fargo work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.