On average, listings lease in the $20's per square foot per year. The Royal Oak submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 29 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 3% of the office spaces in the Royal Oak are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 9,500 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 1 floors. Most buildings in this area were built in 1946 and are Class Class B.