On average, listings lease in the $30's per square foot per year. The Royal Oak submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $12 per sqft per year. That's a 59% increase in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 14 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 12,200 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are close to 1 stories. Most buildings in this market were built in 1946 and are Class Class B.