What are the different types of commercial real estate?

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate . However, there are three main categories that you are most likely to come across: office, retail, and industrial space . Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Detroit commercial real estate market incorporates 40,234,591 square feet of office space across 264 buildings. Office buildings can also accommodate coworking spaces , which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis. In Detroit, the coworking segment of the commercial real estate market incorporates about 3,115 square feet. Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Detroit commercial real estate market includes 5,595,688 square feet of retail space in a variety of settings. Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Detroit market, there is a total of 66,822,045 square feet of industrial property.

What types of commercial real estate are available in Detroit, MI?

The largest share of commercial real estate space for lease in Detroit is represented by Office space , which accounts for 5,491,452 square feet of available listings. Industrial space available in Detroit adds up to 5,028,737 square feet.

What factors affect the price of commercial real estate in Detroit, MI?

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

What is the average rent for commercial space in Detroit, MI?

The average rent for commercial real estate space listed for lease in Detroit is $22.24 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Detroit can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset. What’s more, each commercial property type makes its own rent market: while the average rent for office space rested at $27.1 per square foot, industrial space in Detroit saw average rents of $6.43 per square foot.

What are the best areas for commercial real estate in Detroit, MI?

The best choice of location for commercial space depends on the factors that are most relevant to your business. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type. As such, there are several areas that you could consider to be the best location for commercial real estate in Detroit, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Detroit is in the Downtown Detroit neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Downtown Detroit area . Meanwhile, retail space opportunities are most abundant in the Lower Woodward submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in Butzel - Indian Village . Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

How do I find a good commercial real estate broker?

Whether or not leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker . In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market , the property type you need representation for, and will handle negotiations on your behalf in your best interest. To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker . Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests. CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

What is the most profitable commercial real estate?

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $29 per square foot. In particular, the property type commanding the highest lease rates in Detroit was Office space. Conversely, the highest sale price last year was $995,000 that is located at 22341 West 8 Mile.

What is the average size of a commercial property in Detroit, MI?

The average size of a commercial property in Detroit depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use: In Detroit, the average size of an office property is 160,297 square feet. Retail properties here incorporate an average of 39,131 square feet. Industrial space in Detroit is in buildings that are, on average 228,843 square feet in size.

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827 Commercial Real Estate Listings in Detroit, MI

CRE Market Stats

RenCen
Regus
400 Renaissance Center Suite 3800, Detroit, MI
Services

Virtual Office

Open Workspace

Private Office

Dedicated Desk
Amenities

24/7 security

Access to global network

Business lounge

Cleaning services

Complimentary coffee & tea

High-speed internet

High-speed wifi

Kitchen

Mail services

Money-back guarantee
View Details (opens in new window)
Peace and Goodwill Baptist Church

20500 Moross Road, Denby, Detroit, MI
For Sale

$425,000
Property

Other

15,000 SF
View Details (opens in new window)
Oakland Park 5

13000 Oakland Park Blvd, Highland Park, MI
For Lease

Contact for pricing
Property

Industrial

210,000 SF
Availability

1 Space

210,725 SF
Year Built

1999
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Former Supermarket

18246 Wyoming Avenue, Bagley, Detroit, MI
For Lease

Contact for pricing
Property

Retail

16,200 SF
Availability

1 Space

16,200 SF
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Millwood Apartments

36 E Milwaukee, Middle Woodward, Detroit, MI
For Sale

Unpriced
Property

Multi-Family

13,597 SF
Year Built

1913
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Penobscot Building

645 Griswold St, Downtown Detroit, Detroit, MI
For Lease

$22.00/SF/YR
Property

Office

1,149,710 SF
Availability

1 Space

996,000 SF
Year Built

1928
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The Albert Retail

1228 Griswold Street, Downtown Detroit, Detroit, MI
For Lease

Contact for pricing
Property

Retail

12,000 SF
Availability

1 Space

1,606 SF
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205 West Congress (Bankers Trust Company Building)

205 thru 211 West Congress , Downtown Detroit, Detroit, MI
For Lease

$12.00 - $18.00/SF/YR
Property

Office

26,000 SF
Availability

2 Spaces

15,200 SF
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Broadway Building

1307 Broadway, Downtown Detroit, Detroit, MI
For Sale

$2,240,000
Property

Office

14,300 SF
Year Built

1910
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Redford Plaza

25025-25047 Grand River Avenue, Redford, MI
For Lease

Contact for pricing
Property

Retail

2,400 SF
Availability

3 Spaces

5,050 SF
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1740 Bellevue

1740 Bellevue , Butzel - Indian Village, Detroit, MI
For Lease

$7.00/MO
Property

Industrial

4,200 SF
Availability

1 Space

4,200 SF
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13600 East 8 Mile Road

13600 East 8 Mile Road, Mt. Olivet, Detroit, MI
For Lease

$19.00/SF/YR
Property

Retail

1,200 SF
Availability

1 Space

1,200 SF
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4500 Lawton St

4500 Lawton St, Jeffries, Detroit, MI
For Sale

$350,000
Property

VacantLand
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4747 Woodward Avenue

4747 Woodward Avenue, Lower Woodward, Detroit, MI
For Sale

$7,000,000
Property

Office

17,891 SF
Year Built

1985
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15255 Mayfield

15255 Mayfield, Burbank, Detroit, MI
For Sale

Contact Listing Agent(s)
Property

Other

13,216 SF
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One Campus Martius

1 Campus Martius, Downtown Detroit, Detroit, MI
For Lease

$18.50/SF/YR
Property

Office

985,098 SF
Availability

4 Spaces

266,000 SF
Year Built

2003
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Re-Development Opportunity

8400 Woodward Avenue, Middle Woodward, Detroit, MI
For Sale

$850,000
Property

VacantLand
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Vacant Land

10905, 10911-10917 and 10921 East Jefferson Avenue, Foch, Detroit, MI
For Sale

CALL FOR PRICE
Property

VacantLand
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Mack Office Building

19251 Mack Avenue, Grosse Pointe Woods, MI
For Lease

Contact for pricing
Property

Office

285,839 SF
Availability

8 Spaces

33,498 SF
Year Built

1990
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1001 Woodward Avenue
WeWork
1001 Woodward Avenue, Detroit, MI
Services

Open Workspace

Meeting Room

Private Office
Amenities

24/7 security

Access to global network

Bike storage

Cleaning services

Game room

Hands-free dispensers

Heating & A/C

High-speed wifi

IT support

Kitchen
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Highland Park Plaza

13933 Woodward Avenue, Highland Park, MI
For Sale

$975,000
Property

Retail

13,000 SF
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4817-4827 W Vernor Hwy

4817-4827 W Vernor Hwy, Vernor - Junction, Detroit, MI
For Sale

$980,000
Property

Industrial

31,829 SF
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16700 Grand River Ave

16700 Grand River Ave, Cerveny - Grandmont, Detroit, MI
For Lease

$14.00/SF/YR
Property

Retail

17,200 SF
Availability

1 Space

7,500 SF
View Details (opens in new window)
Eastland Commerce Center Building 2

17890 Vernier Road, Harper Woods, MI
For Lease

Contact for pricing
Property

Industrial

535,342 SF
Availability

1 Space

535,342 SF
Year Built

2023
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W Grand Blvd. Industrial Warehouse

2475 W Grand Boulevard, Rosa Parks, Detroit, MI
For Sale

Subject To Offer
Property

Industrial

40,800 SF
Year Built

1916
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B. Siegel Project

19031 Livernois, Bagley, Detroit, MI
For Lease

$22.00/SF/YR
Property

Retail

24,839 SF
Availability

3 Spaces

6,534 SF
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Building Size Range	Total Square Feet	Share of Total Office
50k to 100k Sq. Ft.	4,019,836 Sq. Ft.	10.4%
100k to 500k Sq. Ft.	14,132,216 Sq. Ft.	36.55%
500k to 1M Sq. Ft.	12,416,345 Sq. Ft.	32.11%
> 1M Sq. Ft.	5,918,302 Sq. Ft.	15.31%

Class	Total Square Feet	Share of Total Office
Class A+	490,000 Sq. Ft.	1.27%
Class A	15,033,253 Sq. Ft.	38.88%
Class B	18,735,525 Sq. Ft.	48.46%
Class C	1,748,250 Sq. Ft.	4.52%

Building Size Range	Total Square Feet	Share of Total Industrial
50k to 100k Sq. Ft.	11,148,148 Sq. Ft.	13.34%
100k to 500k Sq. Ft.	31,308,755 Sq. Ft.	37.46%
500k to 1M Sq. Ft.	9,816,674 Sq. Ft.	11.74%
> 1M Sq. Ft.	21,910,343 Sq. Ft.	26.21%

Class	Total Square Feet	Share of Total Industrial
Class A	19,313,425 Sq. Ft.	23.11%
Class B	35,309,256 Sq. Ft.	42.24%
Class C	28,764,981 Sq. Ft.	34.41%

Building Size Range	Total Square Feet	Share of Total Retail
50k to 100k Sq. Ft.	1,407,536 Sq. Ft.	40.16%
100k to 500k Sq. Ft.	2,097,064 Sq. Ft.	59.84%

City	Property Type	Count of Listings	Total SF
Detroit, MI	Office	106	5,491,452
Detroit, MI	Retail	138	544,864
Detroit, MI	Industrial	93	5,028,737
Detroit, MI	Other	421	24,784,618

827 Commercial Real Estate Listings in Detroit, MI

Detroit, MI Commercial Real Estate Market Overview

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Detroit, MI?

What factors affect the price of commercial real estate in Detroit, MI?

What is the average rent for commercial space in Detroit, MI?

What are the best areas for commercial real estate in Detroit, MI?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Detroit, MI?

Detroit, MI Commercial Real Estate Inventory Breakdown

Total Office Space in Detroit: 38,664,098 Sq. Ft.

Total Industrial Space in Detroit: 83,586,412 Sq. Ft.

Total Retail Space in Detroit: 3,504,600 Sq. Ft.

Detroit, MI Currently Available Listings

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