The typical asking rate per listing is in the $10's per square foot per year. The University region is seeing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Minneapolis market, the University region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 39 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 3,430 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this area were built in 1932 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst University occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.