On average, listings lease in the $20's per square foot per year. The Rivertown - Warehouse District region is going through a a boost in rates. In the last 3 months, the median rate went up $29 per sqft per year.
Compared to the rest of the Detroit market, the Rivertown - Warehouse District submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have been made available, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 80% of the available leases in the Rivertown - Warehouse District 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 18,420 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this region were built in 1917 and are Class C.
A large portion of this area 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 Rivertown - Warehouse District folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.