The typical asking rate per listing is in the $40's per square foot per year. The Downtown Birmingham submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $0 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Birmingham region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 11 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 9% of the available space in the Downtown Birmingham are subleases, so you will probably have to consider a longer term 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 3,520 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 3 floors. Most buildings in this area were built in 1974 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Downtown Birmingham folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.