Most listings are in the $30's per square foot per year. The Downtown Royal Oak region is going through a a boost in rates. In the last 3 months, the median rate rose $38 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Royal Oak submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 8 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 12,210 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this region were built in 0 and are Class Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by car is the most popular way to get to work amongst Downtown Royal Oak residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.