On average, listings lease in the $20's per square foot per year. The Royal Oak submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 220 listings have been made available, so you'll want to check back regularly for new listings. About 6% of the office spaces in the Royal Oak are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,550 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 1 stories. Most buildings in this region were built in 1952 and are Class B.
This market 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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