The typical asking rate per listing is in the $20's per square foot per year. The Downtown Ferndale submarket is experiencing a a boost 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 Downtown Ferndale region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 1 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 9,530 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 1 floors. Most buildings in this area were built in 1953 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Downtown Ferndale occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.