The typical asking rate per listing is in the $20's per square foot per year. The Downtown Lansing submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 5% decrease in rent.
In the last 90 days, 13 listings have come on the market, which means spaces most likley are 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 3,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this region were built in 1888 and are Class Class B.
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 folk of Downtown Lansing work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.