The typical asking rate per listing is in the $30's per square foot per year. The Detroit - Shoreway submarket is going through a an increase in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 77% increase in rent.
Compared to the rest of the Cleveland market, the Detroit - Shoreway submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 2 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 2 floors. Most buildings in this region were built in 1900 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Most of the residents of Detroit - Shoreway work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.