On average, listings lease in the $10's per square foot per year. The Waterford submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $18 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Metro Detroit market, the Waterford submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 24 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 13% of the listings in the Waterford 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,150 sqft. Most properties in this region are around 1 stories. Most buildings in this area were built in 1959 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Waterford residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.