The typical asking rate per listing is in the $40's per square foot per year. The Downtown Birmingham region is going through a a rise in rates. In the last 3 months, the median rate increased $0 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Birmingham region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 15 listings have been posted online, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 5,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this area were built in 1974 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Birmingham occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.