The typical asking rate per listing is in the $20's per square foot per year. The Grosse Pointe Park submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $0 per sqft per year. That's a 0% decrease in rent.
Compared to the rest of the Metro Detroit market, the Grosse Pointe Park submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 5 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 60% of the office spaces in the Grosse Pointe Park are subleases, so you might be able to find a shorter term or below market rent. 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 1,670 sqft. Most properties in this region are close to 1 stories. Most buildings in this area were built in 1924 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Grosse Pointe Park occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.