The typical asking rate per listing is in the $30's per square foot per year. The Southern Terrace submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $34 per sqft per year.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Southern Terrace submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 38 listings have been made available, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 3% of the available space in the Southern Terrace are subleases, so you will probably have to focus your search on direct office leases. 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 2,740 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 1 floors. Most buildings in this market were built in 2007 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Southern Terrace occupants. 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 Southern Terrace.
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