The typical asking rate per listing is in the $10's per square foot per year. The Waterford submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $12 per sqft per year. That's a 38% decline in rent.
Compared to the rest of the Metro Detroit market, the Waterford region has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 28 listings have been posted online, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 11% of the listings in the Waterford are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,000 sqft. Most buildings in this market are approximately 1 stories. Most buildings in this market were built in 1959 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Waterford folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.