The typical asking rate per listing is in the $20's per square foot per year. The Memphis submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Memphis market, the Memphis region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 170 listings have been listed, so you'll want to check back regularly for new listings. About 1% of the available space in the Memphis 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.
The standard measurement for office space in this area is around 2,240 sqft. Most properties in this region are approximately 2 stories. Most buildings in this market were built in 1985 and are Class B.