On average, listings lease in the $10's per square foot per year. The Balmoral region is experiencing a a boost in rates. In the last 3 months, the median rate increased $16 per sqft per year.
Compared to the rest of the Memphis market, the Balmoral submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 0 listings have come on the market, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About NaN% of the available leases in the Balmoral are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 420 sqft. Most buildings in this area are approximately 1 stories. Most buildings in this market were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Balmoral residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.