Most listings are in the $10's per square foot per year. The Memphis region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Memphis market, the Memphis submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 242 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the listings in the Memphis are subleases, so you will probably have to consider a longer term lease. 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 3,100 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 1 stories. Most buildings in this region were built in 1985 and are Class B.