The typical asking rate per listing is in the $20's per square foot per year. The Five Points South submarket is going through a an increase in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 20% rise in rent.
Compared to the rest of the Birmingham market, the Five Points South region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 24 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 38% of the available leases in the Five Points South are subleases, so you might be able to snag a great spot on a short term. 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 1,560 sqft. Most properties in this region are approximately 2 floors. Most buildings in this area were built in 1968 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Five Points South residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.