On average, listings lease in the $10's per square foot per year. The Downtown Madison Heights submarket is going through a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year.
Compared to the rest of the Metro Detroit market, the Downtown Madison Heights submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 0 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About Inf% of the available leases in the Downtown Madison Heights are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,150 sqft. Most properties in this region are around 1 floors. Most buildings in this market 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 region. Commute by walking is the most popular way to get to work amongst Downtown Madison Heights folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.