Novi Retail

Novi

Office Space Market Report

Number of Listings (last 90 days)
25
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
2,730
As of: June 22, 2017

Novi Rates

The typical asking rate per listing is in the $20's per square foot per year. The Novi region is seeing a a rise in rates. In the last 3 months, the median rate went up $28 per sqft per year.

Compared to the rest of the Metro Detroit market, the Novi submarket has greater rates, and you'll need to make a great offer to be in this hot region.

Novi Listing Supply

In the last 90 days, 25 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 64% of the listings in the Novi are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 2,730 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 1 stories. Most buildings in this market were built in 1995 and are Class B.

Novi Community

Market Report

Trends and status of the commercial real estate market in Novi.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Novi.
Research

Novi Submarkets