On average, listings lease in the $10's per square foot per year. The Downtown South Lyon submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Metro Detroit market, the Downtown South Lyon submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 1 listings have been posted online, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 600 sqft. Most properties in this market are close to 2 stories. Most buildings in this area were built in 1940 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown South Lyon folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.