The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 220 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the listings in the Royal Oak 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,250 sqft. Most buildings in this area are around 1 stories. Most buildings in this area were built in 1952 and are Class B.
This region is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Royal Oak occupants. Commuting close to an hour and a half 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 Royal Oak.
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