The typical asking rate per listing is in the $20's per square foot per year. The Five Points South submarket is going through a an increase in rates. In the last 3 months, the median rate rose $6 per sqft per year. That's a 26% increase in rent.
Compared to the rest of the Birmingham market, the Five Points South region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 24 listings have been listed, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,600 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 2 stories. Most buildings in this area were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Five Points South folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.