The typical asking rate per listing is in the $40's per square foot per year. The Downtown Birmingham submarket is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Birmingham region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 11 listings have been listed, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 3,030 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 3 stories. Most buildings in this market were built in 1970 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Birmingham residents. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.