The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak region is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 220 listings have been made available, so you'll want to check back regularly for new listings. About 6% of the available space in the Royal Oak 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,310 sqft. Most buildings in this region are approximately 1 floors. Most buildings in this area were built in 1952 and are Class B.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Royal Oak residents. Commuting around 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 Royal Oak.
Get email notifications when new listings are posted that match your requirements.