The typical asking rate per listing is in the $10's per square foot per year. The Memphis region is seeing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 22% decline 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 depreciated region.
In the last 90 days, 227 listings have been posted online, so you'll want to check back regularly for new listings. About 99% of the available leases in the Memphis are subleases, so you might be able to snag a great spot on a short term. 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 3,400 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 1 stories. Most buildings in this region were built in 1985 and are Class B.