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On average, commerial real estate listings lease in the $20's per square foot per year. The Downtown Detroit submarket is experiencing a decline in rates. In the last 3 months, the median rate for lease decreased $3 per sqft per year.
Compared to the rest of the Detroit commercial real estate market, the Downtown Detroit region has higher rates for rent, and you may need to pay a premium to be in this hot region.
In the last 90 days, 667 commercial real estate listings have come on the market, so you'll want to check back regularly for new listings. About 1% of the available commercial real estate leases in the Downtown Detroit are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard size for office space in this area is around 1,540 sqft. Most buildings in this region are around 4 floors. Most buildings in this market were built close to 1925 and are Class B.
A large portion of this market is residential, but there's plenty of office space. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Detroit occupants. 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 Detroit.
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