The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 202 listings have come on the market, so you'll want to check back regularly for new listings. About 6% of the office spaces in the Royal Oak 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 3,550 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 1 stories. Most buildings in this region were built in 1950 and are Class B.
Real time and historical data on commercial real estate listings in Royal Oak.
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