Commercial Real Estate Market in Alma, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
84 active listings and 696 off-market properties in Alma, MI. Commercial property asks $147/SF to buy and $20.53/SF/Yr to lease.
Market Trends
Alma, MI spans 70.8 square miles in Gratiot County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Alma, MI asks $30/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 Alma, MI asks $37/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 Alma, 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 space in Alma, MI asks $78/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 62.9%
- Industrial 19.6%
- Commercial 12.2%
Largest Zones share of zoned land by district
Single Family Residential
Two Family Residential
General Industrial
Limited Industrial
Multiple Family Residential
Alma, MI zones 3,788 acres across 15 districts. Commercial zoning covers 12.2% of zoned land, residential 62.9% and industrial 19.6%. The largest single district is Single Family Residential at 39.9%. For commercial buyers the practical constraint is that only 31.9% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
R-1 and R-1A, single-family residential districts (low and medium density). (1) Intent. The intent here is to provide districts in which the main use is single-family residential, plus its normal accessory and compatible supportive uses. A reasonable range of lot sizes is envisioned which will provide a choice of desirable and economically feasible developme…
Market overview
Demographics & Economy
Alma, MI has 13,006 residents in 5,408 households. Density runs 184 people per square mile. Median household income here is $57,449 and median gross rent $795 a month.
13,006
Population
5,408
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
95%
High-School Grad
70.8 sq mi
ZIP Area
184
Density / Sq Mi
$57,449
Median Household Income
$30,146
Median Earnings
$795
Median Rent
$120,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Saint Louis | — | $6.57 |
| Elwell | — | — |
| Ithaca | — | — |
| Riverdale | — | — |
Commercial property in Alma, MI asks $147/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Alma?
Commercial property in Alma, MI asks an average of $147 per square foot. Multifamily carries the highest asking price at $78/SF.
How much does it cost to lease commercial space in Alma?
Asking lease rates in Alma, MI average $20.53 per square foot per year.
What zoning applies to commercial property in Alma?
Alma, MI zones 3,788 acres across 15 districts, of which 12.2% is commercial and 19.6% industrial. The largest single district is Single Family Residential at 39.9% of zoned land. R-1 and R-1A, single-family residential districts (low and medium density). (1) Intent. The intent here is to provide districts in which the main use is single-family residential, plus its normal accessory and compatible supportive uses. A reasonable range of lot sizes is envisioned which will provide a choice of desirable and economically feasible developme… Residential zoning covers 62.9% and open space 0%.
Where does Realmo's Alma market data come from?
Realmo compiles Alma, MI figures from 5 recent recorded sales, 70 active sale listings, 14 active lease listings, 696 tracked off-market properties, the current Alma zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 70 active for-sale and 14 active for-lease listings in Alma, 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: 3,788 zoned acres across 15 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
