Commercial Leasing – Prospect Realty Group

Best-in-Class Commercial Leasing Services

Commercial leasing is entirely different from residential real estate. At Prospect Realty Group, we are experienced at working with both established businesses and start-ups. Please read through the information below and then let us know how can be of help.

Environmental portraits for Ypsilanti Business owners, Colleen Kennedy, Jeff Muir, and Nicole Heiber, Prospect Realty on December 16, 2025.

How does commercial leasing work?

The process of leasing a commercial space means convincing a property owner that your business would be at very low risk of defaulting on your commercial lease and that you would be professional and easy to work with as a tenant. This means you will need a solid business plan, bank statements, and a willingness to provide a personal guarantee of the lease. It is our job to evaluate your appropriateness for each prospective location, prepare a compelling application, and negotiate the deal to conclusion.
Why should property owners or business tenants choose Prospect Realty Group for their commercial leasing needs?

One thing we do very well is weed out time-wasters! We know how to evaluate a business’ financials and readiness to secure and fulfill a lease of your property. Prospect Realty Group is recognized for its effective, client‑focused approach to commercial leasing. For business tenants, Prospect Realty Group begins by developing a clear understanding of operational needs, budget parameters, and growth plans. The team identifies and evaluates suitable properties, explains cost structures, and provides accurate market insight so tenants can make informed decisions. Throughout negotiations, Prospect Realty Group advocates for lease terms that support business flexibility, financial stability, and efficient operations—helping clients avoid costly oversights. Property owners rely on Prospect Realty Group to lease vacant commercial spaces strategically AND quickly. We conduct a market analysis to price and position properties competitively, we target qualified prospective tenants, and we actively market spaces through professional channels and industry relationships. When screening potential tenants, we focus on use compatibility and financial strength, to protect the long‑term value of client properties. By coordinating with attorneys, contractors, and other stakeholders, we keep transactions moving smoothly. Commercial leasing is a complex process with lasting implications. Prospect Realty Group delivers the expertise, diligence, and strategic guidance clients need to lease with confidence and achieve low-risk, profitable results.
Why should property owners or business tenants choose Prospect Realty Group for their commercial leasing needs?

Hiring Prospect Realty Group to lease a commercial, office, light industrial, or retail property means partnering with a brokerage focused on maximizing value and minimizing vacancy. The process begins with a signed commercial listing agreement that defines the scope of services, marketing strategy, and brokerage responsibilities. To position a property for success, owners may be asked to address maintenance, repairs, or cosmetic improvements so the space shows well and commands the highest possible rent. Prospect Realty Group provides guidance on which improvements offer the strongest return and which expenses are most critical to tenant appeal. In some cases, a non‑refundable retainer may be required to support upfront marketing efforts, targeted outreach, and active prospecting. This ensures the property receives the attention and resources needed to attract qualified tenants. With clear expectations, proactive communication, and a strategic leasing approach, Prospect Realty Group helps owners achieve stronger lease terms and long‑term results.
What can a property owner expect when hiring Prospect Realty Group to lease their commercial property?

Hiring Prospect Realty Group to lease a commercial, office, light industrial, or retail property means partnering with a brokerage focused on maximizing value and minimizing vacancy. The process begins with a signed commercial listing agreement that defines the scope of services, marketing strategy, and brokerage responsibilities. To position a property for success, owners may be asked to address maintenance, repairs, or cosmetic improvements so the space shows well and commands the highest possible rent. Prospect Realty Group provides guidance on which improvements offer the strongest return and which expenses are most critical to tenant appeal. In some cases, a non‑refundable retainer may be required to support upfront marketing efforts, targeted outreach, and active prospecting. This ensures the property receives the attention and resources needed to attract qualified tenants. With clear expectations, proactive communication, and a strategic leasing approach, Prospect Realty Group helps owners achieve stronger lease terms and long‑term results.
What is the commission structure in commercial leasing?

Typical Commission Breakdown:

– Office Space: Commissions usually fall between 4% and 6% of the total lease value over the initial term.

– Retail Space: Often commands higher rates of 5% to 6% due to the increased complexity of these transactions.

– Industrial Space: Generally slightly lower, ranging from 4% to 5%.

– Government Leases: For State of Michigan leases (often affecting Detroit and Lansing), commissions are capped at 5% and can only be applied to the first five years of the base rent.

– Standard Payment Terms

– Responsibility: The landlord typically pays the entire commission fee.

– Split: The total commission is usually split 50/50 between the landlord’s listing broker and the tenant’s representative broker (e.g., 3% to each if the total is 6%).

– Timing: Payment is typically split into two equal installments: 50% at lease execution (signing) and the remaining 50% when the tenant occupies the space or begins paying rent
How long does it usually take to lease a commercial space?

For most businesses it will take a minimum of 6 months to complete the process, from hiring Prospect Realty Group to touring locations to making an offer and negotiating terms and signing a commercial lease, to finally moving in and taking occupancy. This depends on your location, your specific business needs, and the time of year we start the process.

Commercial Properties

Prospect Realty Group

Commercial Properties for Lease

$395,000

$90

Active

126 College Place

Ypsilanti City_Washtenaw, Michigan 48197

Baths

4,365

0.14

Acres

PUBLIC REMARKS Excellent opportunity to acquire a fully occupied four-unit investment property in the highly desirable Eastern Michigan University area. Located just blocks from campus and close to downtown Ypsilanti and Depot Town, this property benefits from strong rental demand and a proven rental history. The building consists of four residential units and is currently tenant occupied (long term tenants), providing immediate income for a new owner. Convenient access to EMU, Depot Town, downtown Ypsilanti, parks, shopping, dining, and major commuter routes makes this a desirable location for tenants. This property offers investors the opportunity to acquire a stabilized asset in one of Ypsilanti's strongest rental submarkets. Financial information, rent roll, leases, and additional property details available upon request.

Residential Income

MLS# 20261041496 Prospect Realty Group

More Details

$395,000

$213

Active

24587 Kings Pointe

Novi City_Oakland, Michigan 48375

Beds

Baths

1,855

Welcome to 24587 Kings Pointe Dr in Novi! This 4-bedroom, 2.5-bath home offers approximately 1, 800 square feet with a traditional two-story layout, full basement, screened porch, and 2-car attached garage. The main level offers multiple living and dining areas, while all four bedrooms and two full bathrooms are located upstairs. Situated on a corner lot, the home also features several important recent improvements, including attic insulation completed approximately two years ago and a roof replaced approximately five years ago with a 50-year warranty. The full basement provides additional storage and usable space. Owned by the same family since it was built, this is the first time the home has been offered for sale. Conveniently located in Novi near shopping, dining, parks, and major roadways.

Residential

MLS# 20261074639 Prospect Realty Group

More Details

$115,000

$67

Active

15703 Pinehurst Street

Detroit City_Wayne, Michigan 48238

Baths

1,723

0.09

Acres

DUPLEX Investment opportunity in Detroit. Upper/lower duplex featuring two bedrooms and one bath in each unit. Lower unit is currently tenant occupied, while the upper unit is vacant and ready for its next turn and lease-up. Property has completed the City of Detroit rental compliance process and offers an opportunity for an investor to add a solid two-unit asset to an existing portfolio. Property has also passed HCV inspections in the past. No current voucher tenants. Sold as-is. Also available individually, with other available properties, or as part of a six-property/12-unit investment portfolio located in Detroit, Westland and Monroe. Contact listing broker for additional portfolio information, rent/lease details and showing instructions.

Residential Income

MLS# 20261078394 Prospect Realty Group

More Details

$95,000

$43

Under Contract

4740-4742 Alter Road

Detroit City_Wayne, Michigan 48215

Baths

2,214

0.08

Acres

Well-maintained upper/lower duplex in Detroit's Morningside neighborhood, conveniently located near the Grosse Pointe Park border with easy access to I-94. Property features plumbing and electrical upgrades completed last year, and the upper unit was completely turned approximately five months ago. Property has passed City rental inspection and previous Housing Choice Voucher (HCV) inspections, with another HCV inspection scheduled. One tenant currently participates in the HCV program. Great opportunity for investors seeking an established rental property in a convenient location. Available individually or as part of a six-property investment portfolio.

Residential Income

MLS# 20261078461 Prospect Realty Group

More Details

$165,000

$77

Under Contract

32405-32407 Oceana Court

Westland City_Wayne, Michigan 48186

Baths

2,156

0.15

Acres

Well-maintained side-by-side duplex with established, long-term tenants! One unit participates in the Housing Choice Voucher (HCV) program. Property has received numerous recent upgrades in connection with the HCV inspection and has recently passed the City rental inspection. Both units are occupied, providing an opportunity for investors seeking an established rental property. Tenants are responsible for gas and electric utilities and pay a monthly water charge. Property is being offered individually or as part of a six-property investment portfolio. Contact listing agent for additional information.

Residential Income

MLS# 20261078428 Prospect Realty Group

More Details

$154,900

$163

Active

12039-12041 Schaefer Highway

Detroit City_Wayne, Michigan 48227

Baths

952

0.06

Acres

Great investment opportunity! Side-by-side duplex conveniently located near I-96 and Grand River Avenue. Each unit features its own private front and back entrances with private basement. Both units are occupied by long-term tenants, providing an established rental opportunity. Both units received new furnaces in 2024, and the hot water heater in 12041 was replaced in 2026. Property consists of two parcels, 12039 and 12041 Schaefer Road, both included in the sale. Available individually or as part of a six-property investment portfolio.

Residential Income

MLS# 20261078480 Prospect Realty Group

More Details