The typical asking rate per listing is in the $20's per square foot per year. The Southeast Memphis submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the Memphis market, the Southeast Memphis region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 17 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available leases in the Southeast Memphis are subleases, so you will probably have to focus your search on direct office leases. 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 3,550 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this market were built in 1985 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Most of the residents of Southeast Memphis work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.