On average, listings lease in the $20's per square foot per year. The Northfield submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Metro Detroit market, the Northfield submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 25 listings have been listed, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available leases in the Northfield are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,290 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 3 floors. Most buildings in this market were built in 1989 and are Class A.
Public administration is the dominant industry in this market. Most of the residents of Northfield work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.