On average, listings lease in the $20's per square foot per year. The Ferndale submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the Metro Detroit market, the Ferndale 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, 7 listings have been listed, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,350 sqft. Most buildings in this region are approximately 1 floors. Most buildings in this market were built in 1951 and are Class C.