On average, listings lease in the $20's per square foot per year. The Ferndale region is experiencing a an increase in rates. In the last 3 months, the median rate went up $24 per sqft per year.
Compared to the rest of the Metro Detroit market, the Ferndale submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 7 listings have been listed, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 129% of the listings in the Ferndale 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,350 sqft. Most properties in this region are around 1 floors. Most buildings in this area were built in 1951 and are Class Class B.