Most listings are in the $20's per square foot per year. The Ferndale submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $24 per sqft per year.
Compared to the rest of the Metro Detroit market, the Ferndale region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 9,530 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 1 floors. Most buildings in this area were built in 1950 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Most of the occupants of Ferndale work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.