On average, listings lease in the $20's per square foot per year. The Troy submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Metro Detroit market, the Troy submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 98 listings have come on the market, so you'll want to check back regularly for new listings. About 10% of the available space in the Troy are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,240 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 1 stories. Most buildings in this market were built in 1982 and are Class B.