Most listings are in the $10's per square foot per year. The Royal Oak region is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the Metro Detroit market, the Royal Oak region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 40 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 33% of the available leases in the Royal Oak 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 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 2,500 sqft. Most buildings in this area are around 1 stories. Most buildings in this market were built in 1950 and are Class B.
This market is fairly equally mixed residential and commercial. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Royal Oak residents. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.