The typical asking rate per listing is in the $20's per square foot per year. The Downtown Rochester submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 26% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Rochester submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have been posted online, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. 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 2,020 sqft. Most properties in this area are approximately 2 stories. Most buildings in this region were built in 1971 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Rochester occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.