On average, listings lease in the $20's per square foot per year. The Belknap Lookout submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Grand Rapids market, the Belknap Lookout submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 2 listings have come on the market, which means new listings 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,000 sqft. Most properties in this area are close to 2 floors. Most buildings in this area were built in 1900 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Most of the residents of Belknap Lookout work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.