Most listings are in the $20's per square foot per year. The Royal Oak region is going through a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 40 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 3% of the office spaces 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 8,370 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 1 floors. Most buildings in this area were built in 1950 and are Class B.
This area is fairly equally mixed residential and commercial. Public administration is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Royal Oak folk. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.