The typical asking rate per listing is in the $20's per square foot per year. The Bloomfield Hills submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 14% decrease in rent.
Compared to the rest of the Metro Detroit market, the Bloomfield Hills region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 54 listings have been made available, so you'll want to check back regularly for new listings. 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 1,600 sqft. Most buildings in this market are around 2 stories. Most buildings in this region were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Bloomfield Hills residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.