The typical asking rate per listing is in the $10's per square foot per year. The Shelby County region is going through a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 9% decline in rent.
In the last 90 days, 185 listings have come on the market, so you'll want to check back regularly for new listings. About 1% of the office spaces in the Shelby County 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.
The standard measurement for office space in this area is around 2,240 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 1986 and are Class B.