The typical asking rate per listing is in the $20's per square foot per year. The Ferndale submarket is going through a a boost in rates. In the last 3 months, the median rate went up $24 per sqft per year.
Compared to the rest of the Metro Detroit market, the Ferndale region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 62 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the available space in the Ferndale 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 1,350 sqft. Most properties in this market are close to 1 floors. Most buildings in this region were built in 1951 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the residents of Ferndale work from home. Commuting around 10 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 Ferndale.
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