The typical asking rate per listing is in the $20's per square foot per year. The Southeast Memphis submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Memphis market, the Southeast Memphis submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 14 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 7% of the available space in the Southeast Memphis are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,600 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this region were built in 1985 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the folk of Southeast Memphis work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.