On average, listings lease in the $10's per square foot per year. The Royal Oak region is seeing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 13 listings have been made available, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 15% of the listings in the Royal Oak are subleases, so you might be able to snag a great spot on a short term. 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 8,930 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are approximately 1 stories. Most buildings in this market were built in 1946 and are Class Class B.