On average, listings lease in the $10's per square foot per year. The Grosse Pointe Park region is going through a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the Metro Detroit market, the Grosse Pointe Park submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 12 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 8% of the listings in the Grosse Pointe Park are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, 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 buildings in this area are close to 1 floors. Most buildings in this market were built in 1924 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Grosse Pointe Park folk. Commuting between 30 and 45 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 Grosse Pointe Park.
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