The typical asking rate per listing is in the $30's per square foot per year. The Central Ann Arbor region is experiencing a decline in rates. In the last 3 months, the median rate fell $46 per sqft per year. That's a 54% decrease in rent.
In the last 90 days, 17 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 35% of the office spaces in the Central Ann Arbor 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,240 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this region were built in 1925 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. Manufacturing is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Central Ann Arbor residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.