Most listings are in the $20's per square foot per year. The Downtown Troy submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 19% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 84 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the available leases in the Downtown Troy are subleases, so you will probably have to consider a longer term lease. 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 2,700 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 3 stories. Most buildings in this market were built in 1985 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this area. Most of the occupants 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.