Most listings are in the $10's per square foot per year. The Five Points South submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $28 per sqft per year. That's a 59% decline in rent.
Compared to the rest of the Birmingham market, the Five Points South submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 24 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 4% of the available leases in the Five Points South are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 2 floors. Most buildings in this market 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 market. Commute by walking is the most popular way to get to work amongst Five Points South occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.