On average, listings lease in the $20's per square foot per year. The Novi submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $0 per sqft per year. That's a 0% increase in rent.
Compared to the rest of the Metro Detroit market, the Novi submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 15 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 4,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are close to 1 stories. Most buildings in this region were built in 1995 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Most of the occupants of Novi work from home. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.