On average, listings lease in the $10's per square foot per year. The University submarket is experiencing 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 less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 49 listings have been listed, so you'll want to check back regularly for new listings. 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 4,050 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are around 2 floors. 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 market. 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.