Commercial Real Estate Market in Mishawaka, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
118 active listings and 2,189 off-market properties in Mishawaka, IN. Commercial property asks $48/SF to buy and $41.63/SF/Yr to lease.
Market Trends
Mishawaka, IN spans 58.1 square miles in St. Joseph County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mishawaka, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Mishawaka, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mishawaka, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Mishawaka, IN asks $177/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 41.4%
- Planned_development 26.2%
- Commercial 13.7%
- Industrial 10.6%
- Open space 5.8%
- Civic 1.6%
- Mixed use 0.8%
Largest Zones share of zoned land by district
Single Family Residential
Planned Unit Development
General Commercial
Multifamily Residential
Extensive Open Space
Mishawaka, IN zones 10,062 acres across 18 districts. Commercial zoning covers 13.7% of zoned land, residential 41.4%, open space 5.8% and industrial 10.6%. The largest single district is Single Family Residential at 32.5%. For commercial buyers the practical constraint is that only 24.3% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
The residential R-1 district is designed for detached single-family dwellings on individual lots, and vacant land which is to be developed for detached single-family residential neighborhoods. The regulations are designed to keep single-family residential neighborhoods stable and to provide a suitable environment for family living. (Code 1985, § 159.025; Ord…
Market overview
Demographics & Economy
Mishawaka, IN has 57,883 residents in 26,707 households. Density runs 996 people per square mile. Median household income here is $56,971 and median gross rent $1,003 a month.
57,883
Population
26,707
Households
2.2
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
58.1 sq mi
ZIP Area
996
Density / Sq Mi
$56,971
Median Household Income
$38,701
Median Earnings
$1,003
Median Rent
$161,828
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Osceola | — | — |
| South Bend | — | $15.86 |
| Notre Dame | — | — |
| Roseland | — | — |
Commercial property in Mishawaka, IN asks $48/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mishawaka?
Commercial property in Mishawaka, IN asks an average of $48 per square foot. Multifamily carries the highest asking price at $177/SF.
How much does it cost to lease commercial space in Mishawaka?
Asking lease rates in Mishawaka, IN average $41.63 per square foot per year.
What zoning applies to commercial property in Mishawaka?
Mishawaka, IN zones 10,062 acres across 18 districts, of which 13.7% is commercial and 10.6% industrial. The largest single district is Single Family Residential at 32.5% of zoned land. The residential R-1 district is designed for detached single-family dwellings on individual lots, and vacant land which is to be developed for detached single-family residential neighborhoods. The regulations are designed to keep single-family residential neighborhoods stable and to provide a suitable environment for family living. (Code 1985, § 159.025; Ord… Residential zoning covers 41.4% and open space 5.8%.
Where does Realmo's Mishawaka market data come from?
Realmo compiles Mishawaka, IN figures from 2 recent recorded sales, 81 active sale listings, 37 active lease listings, 2,189 tracked off-market properties, the current Mishawaka zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 81 active for-sale and 37 active for-lease listings in Mishawaka, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 10,062 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
