Commercial Real Estate Market in Michigan
Michigan has 10,192 active for-sale listings and 6,925 active for-lease listings. Statewide, the median asking price is $105/SF and the median asking rent is $15.28/SF/Yr as of November 2026. Realmo tracks 280 city markets here; among the 105 with enough listings to rank, median asking prices range from $45/SF in Manistique to $299/SF in Ann Arbor.
- Median asking price
- $105/SF
- Median asking rent
- $15.28/SF/Yr
- For-sale listings
- 10,192
- For-lease listings
- 6,925
- City markets
- 280
Highest- and Lowest-Priced Markets
Asking prices vary across Michigan: the median in Ann Arbor is $299/SF, 6.7x the $45/SF median in Manistique. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Ann Arbor at $299/SF, Lapeer at $282/SF and Dearborn Heights at $264/SF. The lowest median asking prices are in Manistique at $45/SF, Highland Park at $53/SF and Sturgis at $53/SF. 52 of 105 ranked markets have median asking prices above the statewide $105/SF.
Asking Rents
The highest median asking rents are in Northville at $32.00/SF/Yr, Royal Oak at $25.00/SF/Yr and Ferndale at $22.66/SF/Yr. The lowest median asking rents are in Fremont at $9.00/SF/Yr, Wixom at $9.95/SF/Yr and Battle Creek at $10.00/SF/Yr. 37 of 78 ranked markets have median asking rents above the statewide $15.28/SF/Yr.
Michigan vs. Neighboring States
The median asking price in Michigan is $105/SF, above the $100/SF median of its 3 neighboring states. By median asking price, the state ranks 2nd of 4 in the group; Wisconsin is highest at $117/SF and Ohio lowest at $90/SF. The median asking rent is $15.28/SF/Yr, compared with $15.00/SF/Yr in Ohio, $16.00/SF/Yr in Indiana and $15.00/SF/Yr in Wisconsin next door. The statewide median asking price is below the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Michigan | $105 | $15.28 | 10,192 | 6,925 |
| Indiana | $100 | $16.00 | 4,591 | 2,985 |
| Ohio | $90 | $15.00 | 8,765 | 5,822 |
| Wisconsin | $117 | $15.00 | 5,705 | 1,787 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Michigan
Realmo tracks 280 city markets in Michigan; the 40 with the most active listings are listed below. Detroit leads with 1,728 active listings, followed by Grand Rapids and Kalamazoo.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Detroit | 1,728 | $67 | $15.73 |
| Grand Rapids | 658 | $154 | $16.98 |
| Kalamazoo | 621 | $113 | $17.00 |
| Muskegon | 445 | $123 | $13.00 |
| Traverse City | 404 | $223 | $19.02 |
| Lansing | 345 | $92 | $14.00 |
| Holland | 327 | $163 | $17.00 |
| Ann Arbor | 323 | $299 | $22.50 |
| Jackson | 303 | $78 | $13.00 |
| Flint | 283 | $59 | $12.00 |
| Southfield | 251 | $58 | $15.75 |
| Troy | 249 | $150 | $17.95 |
| Battle Creek | 243 | $77 | $10.00 |
| Portage | 236 | $107 | $16.00 |
| Saginaw | 232 | $71 | $13.00 |
| Clinton Township | 229 | $125 | $14.95 |
| Farmington Hills | 209 | $175 | $16.40 |
| Warren | 200 | $92 | $15.41 |
| Westland | 181 | $110 | $15.00 |
| Livonia | 172 | $133 | $15.00 |
| Dearborn | 171 | $165 | $15.71 |
| Sterling Heights | 167 | $177 | $16.95 |
| Ypsilanti | 139 | $121 | $17.00 |
| Benton Harbor | 135 | $60 | $12.50 |
| Mount Pleasant | 129 | $89 | $15.74 |
| Royal Oak | 117 | $243 | $25.00 |
| Cadillac | 113 | $86 | $10.62 |
| Novi | 108 | — | $17.50 |
| Pontiac | 101 | $136 | $12.00 |
| Shelby Township | 95 | $123 | $16.23 |
| Port Huron | 93 | $101 | $14.00 |
| Taylor | 91 | $108 | $16.95 |
| Brighton | 90 | $160 | $16.50 |
| Monroe | 89 | $98 | $12.80 |
| Macomb Township | 84 | — | $17.59 |
| Bay City | 83 | $106 | $12.00 |
| Plymouth | 80 | — | $18.00 |
| Auburn Hills | 79 | — | $12.00 |
| Rochester Hills | 78 | — | $17.00 |
| Roseville | 78 | $111 | $15.65 |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Michigan?
How much does it cost to lease commercial space in Michigan?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Michigan compare with neighboring states?
Which markets in Michigan have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 10,192 active for-sale and 6,925 active for-lease listings across Michigan in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 5,388 for-sale and 3,925 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
