The typical asking rate per listing is in the $10's per square foot per year. The Downtown Sioux Falls region is seeing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 10% decrease in rent.
In the last 90 days, 6 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 450% of the office spaces in the Downtown Sioux Falls 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,430 sqft. Most properties in this region are close to 3 stories. Most buildings in this market were built in 1943 and are Class A.
This area is fairly equally mixed residential and commercial. Manufacturing is the dominant industry in this market. Most of the residents of Downtown Sioux Falls work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.