On average, listings lease in the $10's per square foot per year. The Madison Heights submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the Metro Detroit market, the Madison Heights region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 14 listings have come on the market, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 7% of the available leases in the Madison Heights are subleases, so you will probably have to consider a longer term lease. 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 1,700 sqft. Most properties in this market are approximately 1 floors. Most buildings in this market were built in 1967 and are Class B.