On average, listings lease in the $10's per square foot per year. The Southfield Downtown submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 35% decline in rent.
Compared to the rest of the Metro Detroit market, the Southfield Downtown region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 64 listings have been listed, so you'll want to check back regularly for new listings. 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 5,450 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 12 stories. Most buildings in this market were built in 1969 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 occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.