Novi Office Space


Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 24, 2016

Novi Rates

On average, listings lease in the $20's per square foot per year. The Novi region is going through a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decrease in rent.

Compared to the rest of the Metro Detroit market, the Novi submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.

Novi Listing Supply

In the last 90 days, 7 listings have been posted online, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 29% of the office spaces in the Novi are subleases, so you might be able to snag a great spot on a short term. 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 6,610 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 1 floors. Most buildings in this region were built in 1995 and are Class B.

Novi Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Most of the residents of Novi work from home. Commuting around an hour and a half 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 Novi.
Market Report

Market Data

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

Novi Submarkets