The typical asking rate per listing is in the $10's per square foot per year. The Five Points South region is going through a decline in rates. In the last 3 months, the median rate decreased $28 per sqft per year. That's a 59% decrease in rent.
Compared to the rest of the Birmingham market, the Five Points South submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 24 listings have come on the market, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the available space in the Five Points South are subleases, so you will probably have to consider a longer term lease. 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 3,530 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region were built in 1968 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 residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.