On average, listings lease in the $10's per square foot per year. The Lake Elmo submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $20 per sqft per year.
In the last 90 days, 19 listings have been made available, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 21% of the office spaces in the Lake Elmo are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,730 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 2 floors. Most buildings in this market were built in 2002 and are Class B.