Detroit Commercial Real Estate
954 results
$89,500
$99,999
$129,000
$124,050
$150,000
$20,000
$199,000
$149,900
$449,500
$179,000
Lease:
$2,700/month
$375,000
$9,332/month
$425,000
$165,000
$65,000
$150,000
$1,200,000
$249,000
$69,000
$7/month
$999,000
$600,000
Lease:
$4,844/month
$850,000
10,507 SF
$11,807/month
$525,000
More info
$950,000
$775,000
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Detroit Commercial and Office Space Overview
The second largest metropolitan area in the Midwest after Chicago, Detroit has been a steady force for economic growth and prosperity over the last two centuries. Since its inception in the early 18th century and incorporation as the capital of Michigan, Detroit’s history has been shaped by trade, shipping, and its early access to the Canadian border.
Today, Detroit’s reputation as a major manufacturing and automotive powerhouse is diminished compared to a century ago, but finance, technology, and healthcare have come into focus in recent years. And thanks to the city’s business-friendly environment, many entrepreneurs have singled out Detroit as a ground-floor opportunity in a market ripe for revitalization.
The commercial real estate market in the Motor City reflects its recovery - to potential benefit for enterprising business owners. With over 200 listings at a median rate of $24 per square foot/year, there’s plenty of opportunities to start and grow a company in this historic Midwest city.
Economy of Detroit
Home to America’s automotive manufacturing boom set in motion by Henry Ford in the early 20th century, Detroit became the emblem of American ingenuity, productivity, and hard work. For decades, it served as the arm of the American Arsenal of Democracy, expanding by nearly 400,000 people between 1941-1943 alone. But by the 1970s, automotive manufacturing slowed, leading automakers to lay off thousands of employees and close several major plants. The rest, as they say, is history.
Despite the recession of 2008 and the loss of population to the city’s core, Detroit remains a cultural and economic force in the region. While diminished from its former glory, the city remains home to GM, Quicken Loans, Ally Financial, Little Caesars, and more.
Trends of Detroit
Thanks to a conclusion to the city’s 2013 bankruptcy and a new leadership path in recent years, Detroit is back on the upward path to prosperity. A 2017 report by Detroit Future City shows that, after 60 years, the city is back on track to add to its population, employment, and housing. Furthermore, the number of jobs paying more than $40,000 per year has shown the largest growth in that data point, with mostly suburban residents capturing that area of growth.
However, the commercial real estate market, particularly throughout the downtown region, has exploded. Dozens of new projects are in the works or are close to completion, adding millions of new square footage to the city’s core. Just last year, Little Caesars Arena opened in the much-maligned section of town between Midtown and Downtown, revitalizing the area with retail, restaurant space, and commercial opportunities around the home of the Red Wings and Pistons.
Market Stats
Detroit has 719 commercial real estate spaces for lease, representing 14,724,305 sqft space.
660 buildings are available for sale.
In the past 30 days, Detroit has had 35 spaces leased.
Neighborhoods in Detroit, MI
Metropolitan areas near Detroit, MI
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