The typical asking rate per listing is in the $10's per square foot per year. The Sea Isle Park submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $20 per sqft per year.
Compared to the rest of the Memphis market, the Sea Isle Park region has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 39 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 5% of the office spaces in the Sea Isle Park are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,200 sqft. Most properties in this market are approximately 1 floors. Most buildings in this area were built in 1966 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Most of the occupants of Sea Isle Park work from home. Commuting close to 15 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 Sea Isle Park.
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