On average, listings lease in the $20's per square foot per year. The Belknap Lookout region is going through a an increase in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 48% increase in rent.
Compared to the rest of the Grand Rapids market, the Belknap Lookout submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 2 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 250% of the available leases in the Belknap Lookout are subleases, so you might be able to find a shorter term or below market rent. 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 2,130 sqft. Most properties in this market are approximately 2 floors. Most buildings in this market were built in 1900 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. Professional services is the dominant industry in this market. Most of the occupants of Belknap Lookout work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.