On average, listings lease in the $20's per square foot per year. The Five Points South submarket is going through a a rise in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 20% increase in rent.
Compared to the rest of the Birmingham market, the Five Points South submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 24 listings have come on the market, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 58% of the office spaces 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.
The standard measurement for office space in this area is around 1,560 sqft. Most properties in this area are close to 2 floors. Most buildings in this area 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 folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.