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The typical asking rate per commerial real estate listing leases is in the $20's per square foot per year. The Grand Rapids submarket is experiencing a an increase in rates. In the last 3 months, the median rate for lease increased $3 per sqft per year. That's a 13% rise in rent.
Compared to the rest of the Grand Rapids commercial real estate market, the Grand Rapids region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 1572 commercial real estate listings have been posted online, so you'll want to check back regularly for new listings. About 0% of the available commercial real estate space in the Grand Rapids 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 available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 450 sqft. Most properties in this market are around 2 stories. Most buildings in this region were built close to 1927 and are Class .
Real time and historical data on commercial real estate listings in Grand Rapids.
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