Most listings are in the $20's per square foot per year. The Downtown Troy submarket is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 21% decline in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 7% of the available leases in the Downtown Troy are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,240 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are around 3 stories. Most buildings in this market were built in 1984 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this region. Most of the occupants of Downtown Troy work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.