Downtown Royal Oak Retail

Downtown Royal Oak

Office Space Market Report

Number of Listings (last 90 days)
17
Median Rate ($/sqft/yr)
$33
Median Size (sqft)
10,000
As of: December 10, 2016

Downtown Royal Oak Rates

Most listings are in the $30's per square foot per year. The Downtown Royal Oak region is seeing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 14% decrease in rent.

Compared to the rest of the Metro Detroit market, the Downtown Royal Oak region has more expensive rates, and you'll need to make a great offer to be in this hot region.

Downtown Royal Oak Listing Supply

In the last 90 days, 17 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces in the Downtown Royal Oak are subleases, so you will probably have to focus your search on direct office leases. 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 10,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 2 stories. Most buildings in this area were built in 0 and are Class Class B.

Downtown Royal Oak Community

Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Downtown Royal Oak residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown Royal Oak.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Downtown Royal Oak.
Research

Royal Oak Submarkets