Downtown Memphis Office Space

Downtown Memphis

Office Space Market Report

Number of Listings (last 90 days)
294
Median Rate ($/sqft/yr)
$18
Median Size (sqft)
4,530
As of: August 17, 2017

Downtown Memphis Rates

The typical asking rate per listing is in the $10's per square foot per year. The Downtown Memphis region is seeing a a rise in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 13% rise in rent.

Compared to the rest of the Memphis market, the Downtown Memphis submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.

Downtown Memphis Listing Supply

In the last 90 days, 37 listings have been made available, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 68% of the office spaces in the Downtown Memphis 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 4,530 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this region were built in 1923 and are Class B.

Downtown Memphis Community

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 area. Commute by car is the most popular way to get to work amongst Downtown Memphis folk. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown Memphis.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Memphis.
Research