Retail Space Rents in Ann Arbor, MI
Rent costs for this type of commercial space depend on a variety of factors. The foremost of these is location, which will dictate how accessible a business is and how much foot traffic it gets. Other factors, such as space type and lease structure, also come into play. On average, retail space for lease in Ann Arbor asks $21.94 per square foot.
Retail Space Lease Types in Ann Arbor, MI
The most common type of lease agreement you’ll find here is NNN, with 10 space(s) available under this type of arrangement.
The local market is also home to 1 retail space(s) offered under a Modified Gross lease agreement type.
Most Common Type of Lease for Retail Buildings in Ann Arbor, MI
Average Size of Retail Space for Lease in Ann Arbor, MI
The average size for this type of rental opportunity in Ann Arbor is 1,000 sqft to 2,500 sqft. Currently, the local market offers 12 listing(s) within that size range.
You can also search 11 listing(s) in the 2,500 sqft to 5,000 sqft range.
It should be noted that spaces in this real estate category are generally specialized to cater to the needs of a particular business, so the average sizes of different retail space types can vary greatly.
Retail Space Types You Can Lease in Ann Arbor, MI
Retail space in Ann Arbor comes in all types, shapes, and sizes, so you have a good chance to find the right space for your business. The most common type here is listed as Street Retail and you can find 3 such space(s) available.
Street Retail spaces listed for rent here have an average size of 4,335 square feet. You’ll find street retail spaces are mostly located in urban and suburban areas that have high foot traffic. This type of space is often a great choice for smaller retailers that are looking for well-positioned points of sale.
The local market is also home to 2 space(s) listed as Freestanding. The average size you can expect to find for this category is 12,763 square feet. Freestanding retail spaces or buildings are a great choice for businesses that need more room to carry out their day-to-day operations and want to stand out. Being located on their own lot and generally featuring more generous showroom and storage space than other such space types, freestanding retail offers tenants the leeway to build the experience they want.
What’s more, you can find 1 listing(s) in the Restaurant category, currently available in the average size of 6,226 square feet. Retail space specialized for restaurants usually includes ample seating areas and enough room for the safe preparation of food. Restaurant spaces may be embedded in a larger mall or can be freestanding buildings.
However, besides these popular subtypes, the market has a lot to offer for entrepreneurs looking for the right space to promote their business and get their goods to customers.
Top Locations to Lease Retail Space in Ann Arbor, MI
In general, the most successful retail businesses are located within relatively close proximity of each other, which leads to some neighborhoods becoming famous shopping destinations. Even in the case of suburban strip malls, the simple fact that so many different products can be purchased under the same roof can encourage customers to spend more.
Downtown Ann Arbor is your top choice for lease opportunities, as it is currently home to the highest number of listings — 10 retail space(s).
The most popular space type here is Street Retail.
You can find 2 such listing(s) here.
Ann Arbor’s second most popular area is Old West Side Ann Arbor, where you can find 5 retail listing(s).
Country French Estates is also among the best areas to search for your next commercial space. Here you can find 4 retail space(s) available for consideration by prospective tenants, of which 1 are Street Retail.
Key Factors to Consider When Choosing a Retail Space for Lease
When you’re looking to give your business a storefront, there are a lot of decisions to be made. The first choice is, of course, location. You’ll have to decide whether your business would operate better in the heart of the city or if it is more likely to thrive in a suburban setting.
How much space do you think you will need? A smaller, more specialized business may find a mall space to be more than accommodating, but if you’re looking to set up a business like a diner, car wash, or furniture store, a freestanding space or big box retail space in a shopping center may be more appropriate.
Data based on retail spaces listed for rent on CommercialSearch.com
209 S Main St, Downtown Ann Arbor, Ann Arbor, MIProperty
5950 S State Rd, Carpenter, Ann Arbor, MIProperty
4655-4741 Washtenaw Ave, Montibeller Park, Ann Arbor, MI
3145 Ann Arbor-Saline Road, Bryant Pattengill West, Ann Arbor, MIProperty
304-306 S State St, Downtown Ann Arbor, Ann Arbor, MIProperty
1116 S University Ave, Burns Park, Ann Arbor, MI
414 S. Main Street, Old West Side Ann Arbor, Ann Arbor, MI
401 East Liberty Street, Downtown Ann Arbor, Ann Arbor, MIProperty
3365 Washtenaw Ave, Huron Hills, Ann Arbor, MI
604 E Liberty St, Downtown Ann Arbor, Ann Arbor, MI
600 S Main St, Old West Side Ann Arbor, Ann Arbor, MI
6071 Jackson, Country French Estates, Ann Arbor, MIProperty
3500 Washtenaw Avenue, Huron Hills, Ann Arbor, MIProperty
340 S State St, Downtown Ann Arbor, Ann Arbor, MI