Detroit Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from CBRE, Cushman & Wakefield, Newmark, CBRE U S Cap Rate Sur
Quarterly office market indicators for Detroit, aggregated by PropZone from CBRE, Cushman & Wakefield, Newmark, CBRE U S Cap Rate Sur. As of Q1 2026, average asking rent was — with a 13.7% vacancy rate.
Projected current office pricing — Detroit
low confidenceProjected asking rent
$23.65/SF/yr
Estimated sale value
$138–$179/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2025 CBRE U S Cap Rate Sur data (cap rate 7.9%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | 13.7% | 7K SF | 297K SF | CBRE |
| Q1 2026 | $7.35/SF | 2.0% | 797K SF | — | Cushman & Wakefield |
| Q1 2026 | — | 22.2% | -25K SF | — | Newmark |
| Q4 2025 | — | — | -3K SF | — | Cushman & Wakefield |
| Q4 2025 | — | — | — | — | Newmark |
| Q3 2025 | — | — | -3K SF | — | Cushman & Wakefield |
| Q1 2025 | $23.65/SF | — | — | — | CBRE U S Cap Rate Sur |
| Q1 2025 | $23.65/SF | — | -2.0M SF | — | Newmark |
| Q4 2024 | — | — | -251K SF | — | Newmark |
| Q4 2023 | — | — | — | — | Newmark |
| Q1 2023 | — | — | 8K SF | — | Newmark |
| Q4 2022 | — | — | -5K SF | — | Newmark |
| Q3 2022 | — | 25.4% | — | — | Newmark |
| Q2 2022 | $0.18/SF | — | — | — | Newmark |
| Q4 2020 | — | 8.2% | 2K SF | — | Cushman & Wakefield |
| Q3 2020 | $23.82/SF | 5.8% | 270K SF | — | Cushman & Wakefield |
| Q2 2020 | — | — | 0K SF | — | Cushman & Wakefield |
| Q1 2020 | $24.06/SF | — | 1.4M SF | — | Cushman & Wakefield |
| Q3 2017 | $20.51/SF | 12.7% | 162K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Detroit?
- PropZone aggregates office asking-rent data for Detroit from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the office vacancy rate in Detroit?
- The office vacancy rate in Detroit was 13.7% as of Q1 2026 (CBRE).
- Where does PropZone's Detroit market data come from?
- This report aggregates quarterly office market data for Detroit from CBRE, Cushman & Wakefield, Newmark, CBRE U S Cap Rate Sur.
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