On average, listings lease in the $20's per square foot per year. The Farmington submarket is going through a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Metro Detroit market, the Farmington submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1315 listings have been made available, so you'll want to check back regularly for new listings. About 3% of the office spaces in the Farmington 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 1,940 sqft. Most properties in this area are close to 1 stories. Most buildings in this area were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Farmington occupants. Commuting under 5 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 Farmington.
Get email notifications when new listings are posted that match your requirements.