On average, listings lease in the $20's per square foot per year. The Northville region is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Metro Detroit market, the Northville submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 18 listings have come on the market, which means leases might be leasing quickly. 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 3,340 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are close to 2 floors. Most buildings in this region were built in 1984 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this area. Most of the residents of Northville work from home. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.