On average, listings lease in the $20's per square foot per year. The Southern Terrace region is going through a decline in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 23% decline in rent.
Compared to the rest of the Las Vegas–Henderson–Paradise market, the Southern Terrace submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 8 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 25% of the listings in the Southern Terrace are subleases, so you might be able to sign a shorter term by taking over a previous 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 4,900 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 1 floors. Most buildings in this region 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 residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.