On average, listings lease in the $20's per square foot per year. The Downtown Detroit region is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Detroit market, the Downtown Detroit submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 54 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the available leases in the Downtown Detroit are subleases, so you will probably have to focus your search on direct office leases. 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 3,150 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 5 floors. Most buildings in this area were built in 1925 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Construction is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Detroit folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.