Most listings are in the $20's per square foot per year. The Royal Oak submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak submarket has greater 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 most likley are 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 3,500 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 1 stories. Most buildings in this region were built in 1950 and are Class B.
This region is fairly equally mixed residential and commercial. Public administration is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Royal Oak occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.