The typical asking rate per listing is in the $20's per square foot per year. The Walled Lake submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Metro Detroit market, the Walled Lake submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 5 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 9,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 1 floors. Most buildings in this region were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Walled Lake residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.