On average, listings lease in the $10's per square foot per year. The Madison Heights submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Metro Detroit market, the Madison Heights submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 17 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 12% of the available space 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 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 1,870 sqft. Most properties in this market are approximately 1 stories. Most buildings in this region were built in 1967 and are Class B.