The typical asking rate per listing is in the $20's per square foot per year. The Southeast Memphis region is seeing a a boost in rates. In the last 3 months, the median rate went up $22 per sqft per year.
Compared to the rest of the Memphis market, the Southeast Memphis region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 17 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 12% of the listings in the Southeast Memphis are subleases, so you might be able to sign a shorter term by taking over a previous 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 2,550 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this area 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 market. Most of the folk of Southeast Memphis work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.