On average, listings lease in the $10's per square foot per year. The Grosse Pointe Park submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 22% decrease in rent.
Compared to the rest of the Metro Detroit market, the Grosse Pointe Park submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 12 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 17% of the available leases in the Grosse Pointe Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,670 sqft. Most properties in this area are approximately 1 stories. Most buildings in this region were built in 1924 and are Class B.
Real time and historical data on commercial real estate listings in Grosse Pointe Park.
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