On average, listings lease in the $10's per square foot per year. The Ferndale submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the Metro Detroit market, the Ferndale region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 7 listings have been listed, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most buildings in this area are close to 1 stories. Most buildings in this area were built in 1950 and are Class C.