On average, listings lease in the $20's per square foot per year. The Downtown Detroit region is going through a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Detroit market, the Downtown Detroit region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 54 listings have been made available, so you'll want to check back regularly for new listings. About 107% of the listings in the Downtown Detroit are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,640 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 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 region. 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.