The typical asking rate per listing is in the $40's per square foot per year. The Downtown Birmingham submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $0 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Birmingham submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 11 listings have come on the market, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 36% of the available leases in the Downtown Birmingham 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.
Even though the median size is 2,920 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this area were built in 1970 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Birmingham folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.