The typical asking rate per listing is in the $20's per square foot per year. The Pleasant Acres submarket is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 10% decrease in rent.
Compared to the rest of the Memphis market, the Pleasant Acres submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 48 listings have come on the market, so you'll want to check back regularly for new listings. About 15% of the available leases in the Pleasant Acres are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,140 sqft. Most properties in this region are close to 9 stories. Most buildings in this region were built in 1973 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Utilities is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Pleasant Acres folk. Commuting approximately 20 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 Pleasant Acres.
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