On average, listings lease in the $30's per square foot per year. The Novi submarket is going through a a rise in rates. In the last 3 months, the median rate rose $9 per sqft per year. That's a 44% increase in rent.
Compared to the rest of the Metro Detroit market, the Novi region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 293 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the available leases in the Novi 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 4,400 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 1 floors. Most buildings in this region were built in 1995 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Most of the occupants of Novi work from home. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Novi.
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