On average, listings lease in the $20's per square foot per year. The Downtown Rochester submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 23% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Rochester submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 8 listings have been listed, which means new availabilities 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.
The standard measurement for office space in this area is around 2,400 sqft. Most properties in this market are close to 2 floors. Most buildings in this market were built in 1977 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Rochester folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.