On average, listings lease in the $10's per square foot per year. The Lower East Detroit submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $19 per sqft per year.
Compared to the rest of the Detroit market, the Lower East Detroit region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 42 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the available leases in the Lower East 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most properties in this area are around 2 floors. Most buildings in this area were built in 1941 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Lower East Detroit occupants. Commuting around 15 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 Lower East Detroit.
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