Most listings are in the $20's per square foot per year. The Downtown Ferndale region is seeing a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 29% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Ferndale region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been listed, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 1,350 sqft. Most buildings in this area are around 1 stories. Most buildings in this area were built in 1959 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Downtown Ferndale folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.