On average, listings lease in the $10's per square foot per year. The Ferndale submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 22% decline in rent.
Compared to the rest of the Metro Detroit market, the Ferndale region has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 7 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 1,900 sqft. Most properties in this region are approximately 1 stories. Most buildings in this area were built in 1950 and are Class C.