On average, listings lease 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 went up $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 more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 14 listings have been listed, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the available leases in the Southeast Memphis are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,600 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are close to 2 stories. Most buildings in this region 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 occupants of Southeast Memphis work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.