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The typical asking rate per commerial real estate listing leases is in the $20's per square foot per year. The New Pathways submarket is going through a a rise in rates. In the last 3 months, the median rate for lease went up $24 per sqft per year.
Compared to the rest of the Memphis commercial real estate market, the New Pathways region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 180 days, 67 commercial real estate listings have come on the market, so you'll want to check back regularly for new listings. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 1,480 sqft. Most buildings in this region are close to 1 stories. Most buildings in this region were built approximately 1917 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by car is the most popular way to get to work amongst New Pathways folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in New Pathways.
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