Most listings are in the $20's per square foot per year. The Royal Oak submarket is going through a an increase in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Metro Detroit market, the Royal Oak region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 40 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 48% of the listings in the Royal Oak 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,520 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 1 floors. Most buildings in this area were built in 1950 and are Class B.
This region is fairly equally mixed residential and commercial. Public administration is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Royal Oak occupants. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.