On average, listings lease in the $20's per square foot per year. The Downtown Lansing submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 12% decline in rent.
In the last 90 days, 12 listings have been posted online, which means listings are probably 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 2,740 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are around 2 floors. Most buildings in this region were built in 1899 and are 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 area. 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.