Most listings are in the $20's per square foot per year. The Southern Terrace region is seeing a decrease in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 23% decline in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Southern Terrace submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 4 listings have been made available, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 50% of the available leases in the Southern Terrace are subleases, so you might be able to find a shorter term or below market rent. 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 4,900 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 1 stories. Most buildings in this region were built in 2007 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Southern Terrace occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.