The typical asking rate per listing is in the $10's per square foot per year. The Southfield Downtown submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Metro Detroit market, the Southfield Downtown submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 2 listings have been listed, which means new availabilities are probably leasing quickly. 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.
Even though the median size is 6,120 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are around 12 floors. Most buildings in this market were built in 1973 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Southfield Downtown residents. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.