Royal Oak Office Space

Royal Oak

Office Space Market Report

Number of Listings (last 90 days)
40
Median Rate ($/sqft/yr)
$26
Median Size (sqft)
3,500
As of: May 27, 2017

Royal Oak Rates

The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 8% increase in rent.

Compared to the rest of the Metro Detroit market, the Royal Oak region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.

Royal Oak Listing Supply

In the last 90 days, 40 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Royal Oak are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,500 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 1 stories. Most buildings in this region were built in 1950 and are Class B.

Royal Oak Community

This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Royal Oak folk. Commuting approximately 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 Royal Oak.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Royal Oak.
Research

Royal Oak Submarkets