The typical asking rate per listing is in the $20's per square foot per year. The Downtown Troy region is experiencing a an increase in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 19% increase in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 43 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the office spaces in the Downtown Troy are subleases, so you will probably have to consider a longer term lease. 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 3,480 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this region were built in 1984 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the occupants of Downtown Troy work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.