The typical asking rate per listing is in the $20's per square foot per year. The Memphis region is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Memphis market, the Memphis submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 275 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the available leases in the Memphis are subleases, so you will probably have to consider a longer term 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 2,630 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are around 2 floors. Most buildings in this region were built in 1985 and are Class B.