The typical asking rate per listing is in the $20's per square foot per year. The Downtown Troy region is seeing a an increase in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 9% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 876 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the listings in the Downtown Troy 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,890 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 3 stories. Most buildings in this region were built in 1985 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of Downtown Troy work from home. Commuting between 30 and 45 minutes 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 Downtown Troy.
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