Compared to the rest of the Memphis market, the Downtown Memphis submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 37 listings have been made available, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available space in the Downtown 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 4,460 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this region were built in 1923 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Memphis occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.