Most listings are in the $20's per square foot per year. The Downtown Troy submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Metro Detroit market, the Downtown Troy submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 83 listings have been posted online, so you'll want to check back regularly for new listings. About 87% of the available space in the Downtown Troy are subleases, so you might be able to sign a shorter term by taking over a previous 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 3,230 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are approximately 3 stories. Most buildings in this area 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.