On average, listings lease in the $20's per square foot per year. The Traverse City region is experiencing a a boost in rates. In the last 3 months, the median rate rose $24 per sqft per year.
In the last 90 days, 4 listings have been made available, which means new listings might be going fast. You'll want to be prepared to make an offer immediately. About 75% of the available space in the Traverse City are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,000 sqft. Most buildings in this market are close to 2 floors. Most buildings in this market were built in 1982 and are Class Class A.