On average, listings lease in the $20's per square foot per year. The Southeast Memphis region is going through a a boost in rates. In the last 3 months, the median rate increased $22 per sqft per year.
Compared to the rest of the Memphis market, the Southeast Memphis submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 17 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 12% of the listings in the Southeast Memphis are subleases, so you might be able to snag a great spot on a short term. 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 2,550 sqft, there are still 0 new listings below 2,000 sqft. Most buildings 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 region. 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.