On average, listings lease in the $10's per square foot per year. The Five Points South region is going through a a rise in rates. In the last 3 months, the median rate rose $19 per sqft per year.
Compared to the rest of the Birmingham market, the Five Points South region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 24 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 96% of the available leases in the Five Points South 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 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 office spaces below 2,000 sqft. Most buildings in this region are around 2 stories. Most buildings in this market were built in 1970 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 market. Commute by walking is the most popular way to get to work amongst Five Points South residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.