Most listings are in the $20's per square foot per year. The Downtown Madison Heights submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 26% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Madison Heights region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 1 listings have been listed, which means spaces 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,370 sqft. Most buildings in this region are around 1 stories. Most buildings in this market were built in 1950 and are Class C.
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. Commute by walking is the most popular way to get to work amongst Downtown Madison Heights residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.