The typical asking rate per listing is in the $20's per square foot per year. The Downtown Troy submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $22 per sqft per year.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 83 listings have come on the market, so you'll want to check back regularly for new listings. About 73% of the listings in the Downtown Troy 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 2,950 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this region were built in 1985 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the residents of Downtown Troy work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.