2023 Office Space Rent & Sales
- $17.86 2023 Avg. Asking Rent
- -1.40% Y-o-Y Avg. Asking Rent Change
- 22.22% 2023 Office Vacancy Rate
Dearborn office price per square foot in 2023 was $17.86 on average. This marked a -1.40% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.22% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Dearborn Class A & A+ Office Space$21.11
- Dearborn Class B Office Space$15.75
- Dearborn Class C Office Space$9.09
- Michigan Class A & A+ Office Space$22.86
- Michigan Class B Office Space$21.46
- Michigan Class C Office Space$21.50
Dearborn, MI Office Asking Rents by Class
Average office rent in Dearborn rested at $17.86 per square foot in 2023. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Dearborn averaged $21.11 per square foot. Across all submarkets, class B office space recorded an average asking rent of $15.75 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $9.09 per square foot, on average. Comparably, statewide Michigan average office rents by class in 2023 were: $22.86 per square foot for class A office space; $21.46 per square foot for class B office space; $21.50 per square foot for class C office space.
Office Spaces for Rent in Michigan
Coworking Spaces in Michigan
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2023 Office Construction in Dearborn, MI
| Office building | Address | SF | Completed |
|---|---|---|---|
| Kirkwood Professional Plaza | 5500 Auto Club Drive, 48126 | 144,108 | 1992 |
| Fairlane Plaza | 330 Town Center Drive, 48126 | 294,819 | 1987 |
| For Sale or For Lease | 15350 N Commerce Drive, | 12,800 | 1976 |
| 3 Parklane Boulevard - Parklane Towers West | 3 Parklane Boulevard, 48126 | 246,690 | 1973 |
| Parklane Towers | 1 & 3 Parklane Blvd, 48126 | 244,805 | 1973 |
| Village Plaza | 23400 Michigan Avenue, 48124 | 285,468 | 1968 |
| 22720 Michigan Avenue | 22720 Michigan Avenue, 48124 | 28,148 | 1959 |
| Dearborn Medical Building | 22731 Newman Street, 48124 | 48,000 | 1894 |
Worth noting among recent office completions on the Dearborn market is Kirkwood Professional Plaza, which is currently the largest new office development in the city, at 144,108 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Dearborn commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.