Novi Office Space

Novi

Office Space Market Report

Number of Listings (last 90 days)
25
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
2,730
As of: June 27, 2017

Novi Rates

On average, listings lease in the $20's per square foot per year. The Novi region is seeing a a boost in rates. In the last 3 months, the median rate increased $28 per sqft per year.

Compared to the rest of the Metro Detroit market, the Novi submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.

Novi Listing Supply

In the last 90 days, 25 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 60% of the listings in the Novi 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 2,730 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 1 stories. Most buildings in this market were built in 1995 and are Class B.

Novi Community

Market Report

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

Market Data

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

Novi Submarkets