Ferndale Office Space

Ferndale

Office Space Market Report

Number of Listings (last 90 days)
7
Median Rate ($/sqft/yr)
$24
Median Size (sqft)
1,350
As of: June 22, 2017

Ferndale Rates

On average, listings lease in the $20's per square foot per year. The Ferndale region is going through 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 more expensive rates, and you'll need to pay a premium to be in this hot region.

Ferndale Listing Supply

In the last 90 days, 7 listings have been listed, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 143% of the office spaces in the Ferndale 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.

The standard measurement for office space in this area is around 1,350 sqft. Most properties in this market are approximately 1 floors. Most buildings in this region were built in 1951 and are Class Class B.

Ferndale Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the occupants of Ferndale work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Ferndale.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Ferndale.
Research

Ferndale Submarkets