Most listings are in the $20's per square foot per year. The Downtown Troy region is going through a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 15% rise in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 83 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the listings 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 2,760 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 3 floors. Most buildings in this region were built in 1985 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.