On average, listings lease in the $20's per square foot per year. The Ferndale region is going through a an increase in rates. In the last 3 months, the median rate went up $24 per sqft per year.
Compared to the rest of the Metro Detroit market, the Ferndale region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have been posted online, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 5,600 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 1 stories. Most buildings in this region were built in 1950 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the folk of Ferndale work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.