The typical asking rate per listing is in the $20's per square foot per year. The Downtown Lansing submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 8% decline in rent.
In the last 90 days, 18 listings have been posted online, which means spaces 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.
Even though the median size is 3,000 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this region were built in 1899 and are Class B.
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 market. Most of the occupants of Downtown Lansing work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.