The typical asking rate per listing is in the $40's per square foot per year. The Northeast Grand Rapids submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Grand Rapids market, the Northeast Grand Rapids region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 9 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 22% of the listings in the Northeast Grand Rapids 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 350 sqft. Most properties in this area are close to 1 floors. Most buildings in this market were built in 0 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Northeast Grand Rapids occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.