Retail Space Rents in Troy, 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 Troy asks $19.82 per square foot.
Retail Space Lease Types in Troy, MI
The most common type of lease agreement you’ll find here is NNN, with 19 space(s) available under this type of arrangement.
The local market is also home to 3 retail space(s) offered under a Full Service lease agreement type.
Most Common Type of Lease for Retail Buildings in Troy, MI
Average Size of Retail Space for Lease in Troy, MI
The average size for this type of rental opportunity in Troy is 1,000 sqft to 2,500 sqft. Currently, the local market offers 17 listing(s) within that size range.
You can also search 14 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 Troy, MI
Retail space in Troy 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 2 such space(s) available.
Street Retail spaces listed for rent here have an average size of 3,570 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 1 space(s) listed as Community Center. The average size you can expect to find for this category is 5,561 square feet. Community centers can incorporate grocery stores, discount department stores, large drugstores, and more. They’re meant to offer one-stop-shop convenience for residents of the surrounding area, so consider the local customer base when looking to lease a community center space.
What’s more, you can find 1 listing(s) in the Restaurant category, currently available in the average size of 2,129 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.
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.
Data based on retail spaces listed for rent on CommercialSearch.com
1790 Livernois Rd, Troy, MIProperty