On average, listings lease in the $10's per square foot per year. The Madison Heights submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 12% increase in rent.
Compared to the rest of the Metro Detroit market, the Madison Heights region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 18 listings have come on the market, which means spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 72% of the available leases in the Madison Heights are subleases, so you might be able to snag a great spot on a short term. 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 1,150 sqft. Most properties in this market are around 1 stories. Most buildings in this market were built in 1969 and are Class B.