The typical asking rate per listing is in the $20's per square foot per year. The Bloomfield Hills submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Metro Detroit market, the Bloomfield Hills region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 40 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,015 sqft. Most properties in this market are close to 2 stories. Most buildings in this area were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by taxi is the most popular way to get to work amongst Bloomfield Hills occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.