The typical asking rate per listing is in the $30's per square foot per year. The Southern Terrace submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 26% rise in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Southern Terrace region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 6 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 33% of the available space 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 available, so finding a space for a small business might be tough.
Even though the median size is 5,350 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 1 stories. Most buildings in this market 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 area. 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.