On average, listings lease in the $20's per square foot per year. The Troy region is seeing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 14% decrease in rent.
Compared to the rest of the Metro Detroit market, the Troy submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 101 listings have come on the market, so you'll want to check back regularly for new listings. About 5% of the available space in the Troy are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 3,130 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 1 stories. Most buildings in this market were built in 1982 and are Class B.