On average, listings lease in the $20's per square foot per year. The Downtown Lansing submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 12% decrease in rent.
In the last 90 days, 21 listings have been made available, which means new listings are probably 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.
Even though the median size is 3,670 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this region were built in 1899 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the occupants of Downtown Lansing work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.