Most listings are in the $20's per square foot per year. The Royal Oak region is going through a a rise in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 40 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 38% of the available leases in the Royal Oak are subleases, so you might be able to find a shorter term or below market rent. 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 1,250 sqft. Most properties in this region are close to 1 stories. Most buildings in this area were built in 1950 and are Class B.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Royal Oak residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.