Most listings are in the $20's per square foot per year. The Ferndale region is going through a a boost in rates. In the last 3 months, the median rate rose $24 per sqft per year.
Compared to the rest of the Metro Detroit market, the Ferndale region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 129% of the listings in the Ferndale are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,350 sqft. Most properties in this area are approximately 1 floors. Most buildings in this area were built in 1951 and are Class Class B.
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 residents of Ferndale work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.