Most listings are in the $20's per square foot per year. The New Center submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Detroit market, the New Center region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 2 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 6,450 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are approximately 4 stories. Most buildings in this region were built in 1959 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Education is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst New Center residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.