The typical asking rate per listing is in the $20's per square foot per year. The Royal Oak region is going through a decline in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 38 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the office spaces in the Royal Oak are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,500 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 1 floors. Most buildings in this region were built in 1950 and are Class Class B.