On average, listings lease in the $20's per square foot per year. The Downtown Detroit region is going through a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Detroit market, the Downtown Detroit submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 54 listings have come on the market, so you'll want to check back regularly for new listings. About 2% of the listings in the Downtown Detroit 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,150 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 5 stories. Most buildings in this area were built in 1925 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Construction is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Detroit folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.