On average, listings lease in the $20's per square foot per year. The New Center region is seeing a an increase in rates. In the last 3 months, the median rate increased $22 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Detroit market, the New Center region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 18 listings have come on the market, which means leases most likley are leasing quickly. 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.
Even though the median size is 2,670 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are approximately 4 floors. Most buildings in this area were built in 1959 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst New Center occupants. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.