On average, listings lease in the $20's per square foot per year. The Downtown Detroit submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $24 per sqft per year.
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 submarket.
In the last 90 days, 54 listings have been posted online, so you'll want to check back regularly for new listings. About 31% of the available space in the Downtown Detroit are subleases, so you might be able to snag a great spot on a short term. 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 4,900 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 5 floors. Most buildings in this market 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 residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.