Detroit, MI Retail Space for Lease
Browse 100 listing(s) for retail spaces across Detroit, 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 Detroit asks $20.04 per square foot.
The most common type of lease agreement you’ll find here is NNN, with 37 space(s) available under this type of arrangement. The local market is also home to 12 retail space(s) offered under a Full Service lease agreement type, and 6 Modified Gross listing(s).
The average size for this type of rental opportunity in Detroit is 1,000 to 2,500 sq. ft.. Currently, the local market offers 45 listing(s) within that size range. You can also search 41 listing(s) in the 2,500 to 5,000 sq. ft. 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 in Detroit 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 23 such space(s) available.
Street Retail spaces listed for rent here have an average size of 3,977 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 7 space(s) listed as Restaurant. The average size you can expect to find for this category is 3,227 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.
What’s more, you can find 6 listing(s) in the Freestanding category, currently available in the average size of 6,483 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.
Street Retail
23
Restaurant
7
Freestanding
6
Street Retail
3,977 sq. ft.
Restaurant
3,227 sq. ft.
Freestanding
6,483 sq. ft.
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.
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 Detroit is your top choice for lease opportunities, as it is currently home to the highest number of listings — 22 retail space(s). The most popular space type here is Street Retail. You can find 9 such listing(s) here.
Detroit’s second most popular area is Lower Woodward, where you can find 14 retail listing(s).
Redford is also among the best areas to search for your next commercial space. Here you can find 12 retail space(s) available for consideration by prospective tenants, of which 3 are Restaurant.
Downtown Detroit
22
Lower Woodward
14
Redford
12
Middle Woodward
11
Greenfield
8
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.
Data based on retail spaces listed for rent on CommercialSearch.com
Michigan’s only IKEA shadow-anchors the property.
This is the first property the firm acquired through its $240 million opportunistic fund.
Citibank and Red Oak Capital Holdings provided the financing.
Mid-America brokered the transaction.
This will be the firm’s first retail warehouse in Michigan.
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