The typical asking rate per listing is in the $20's per square foot per year. The Downtown Sioux Falls submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 31% rise in rent.
In the last 90 days, 6 listings have been listed, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,770 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 3 floors. Most buildings in this region were built in 1935 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Most of the occupants 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.