The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak submarket is going through a decline in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 23 listings have been posted online, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the listings in the Royal Oak are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 8,930 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 1 stories. Most buildings in this region were built in 1946 and are Class Class B.