The typical asking rate per listing is in the $20's per square foot per year. The Downtown Troy submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $22 per sqft per year.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 83 listings have been posted online, so you'll want to check back regularly for new listings. About 60% of the available leases in the Downtown Troy are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,030 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 3 floors. Most buildings in this market were built in 1985 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this area. Most of the folk of Downtown Troy work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.