Most listings are in the $20's per square foot per year. The Royal Oak submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 39 listings have come on the market, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available space in the Royal Oak are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,140 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 1 floors. Most buildings in this market were built in 1950 and are Class Class B.