On average, listings lease in the $10's per square foot per year. The Downtown Lathrup Village submarket is going through a decline in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the Metro Detroit market, the Downtown Lathrup Village submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 4 listings have been listed, which means new availabilities might be going fast. 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.
The standard measurement for office space in this area is around 2,340 sqft. Most buildings in this market are around 1 floors. Most buildings in this region were built in 1961 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Lathrup Village occupants. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.