Central Office Space

Central

Office Space Market Report

Number of Listings (last 90 days)
8
Median Rate ($/sqft/yr)
$22
Median Size (sqft)
960
As of: June 28, 2017

Central Rates

The typical asking rate per listing is in the $20's per square foot per year. The Central submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $22 per sqft per year.

Compared to the rest of the Detroit market, the Central submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.

Central Listing Supply

In the last 90 days, 8 listings have come on the market, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 75% of the office spaces in the Central 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.

The standard measurement for office space in this area is around 960 sqft. Most buildings in this area are around 4 stories. Most buildings in this market were built in 1929 and are Class A.

Central Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Central folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Central.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Central.
Research