On average, listings lease in the $10's per square foot per year. The Lower East Detroit region is experiencing a a boost 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 submarket has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 42 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the office spaces in the Lower East Detroit 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 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 buildings in this area are close to 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 market. Commute by car is the most popular way to get to work amongst Lower East Detroit folk. Commuting close to 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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