Commercial Real Estate Market in Albion, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
115 active listings and 770 off-market properties in Albion, MI. Commercial property asks $12/SF to buy and $22.00/SF/Yr to lease.
Market Trends
Albion, MI spans 99.9 square miles in Calhoun County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Albion, MI asks $109/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Albion, MI asks $97/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Albion, MI 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 vacancy in Albion, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 68.7%
- Industrial 16.8%
- Mixed use 8.2%
Largest Zones share of zoned land by district
Multiple Family Residential District
Single Family Residential District
Light Industrial District
Mixed Use District
Heavy Industrial District
Albion, MI zones 2,968 acres across 8 districts. Commercial zoning covers 68.7% of zoned land, industrial 16.8%. The largest single district is Multiple Family Residential District at 39.7%. For commercial buyers the practical constraint is that only 85.5% of land carries a commercial or industrial designation.
Multiple Family Residential District (R-2)
R-2 district is composed of certain medium- and high-density areas representing a compatible comingling of single- and two-family dwellings, plus multiple-family dwelling units (apartments) of similar residential characteristics of the district and to limit activities of a commercial nature.
Market overview
Demographics & Economy
Albion, MI has 13,199 residents in 5,277 households. Density runs 132 people per square mile. Median household income here is $52,552 and median gross rent $846 a month.
13,199
Population
5,277
Households
2.5
Avg Household Size
36
Median Age
19%
College-Educated
88%
High-School Grad
99.9 sq mi
ZIP Area
132
Density / Sq Mi
$52,552
Median Household Income
$28,136
Median Earnings
$846
Median Rent
$119,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Parma | — | — |
| Springport | — | — |
| Concord | — | — |
| Marshall | — | $12.40 |
Commercial property in Albion, MI asks $12/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Albion?
Commercial property in Albion, MI asks an average of $12 per square foot. The 4 most recent recorded sales traded at a median of $72/SF. Office carries the highest asking price at $109/SF.
How much does it cost to lease commercial space in Albion?
Asking lease rates in Albion, MI average $22.00 per square foot per year.
What zoning applies to commercial property in Albion?
Albion, MI zones 2,968 acres across 8 districts, of which 68.7% is commercial and 16.8% industrial. The largest single district is Multiple Family Residential District at 39.7% of zoned land. R-2 district is composed of certain medium- and high-density areas representing a compatible comingling of single- and two-family dwellings, plus multiple-family dwelling units (apartments) of similar residential characteristics of the district and to limit activities of a commercial nature. Residential zoning covers 0% and open space 0%.
Where does Realmo's Albion market data come from?
Realmo compiles Albion, MI figures from 6 recent recorded sales, 113 active sale listings, 2 active lease listings, 770 tracked off-market properties, the current Albion zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 113 active for-sale and 2 active for-lease listings in Albion, MI. 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: 2,968 zoned acres across 8 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
