Commercial Real Estate Market in Alma, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
47 active listings and 696 off-market properties in Alma, MI. Commercial property asks $99/SF to buy and $15.00/SF/Yr to lease.
Market Trends
Alma, MI spans 70.8 square miles in Gratiot County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Alma, MI has a median asking sale price of $39/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Alma, MI has a median asking sale price of $95/SF (based on 9 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily space in Alma, MI has a median asking sale price of $104/SF. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Nearby Markets
Commercial property in Alma, MI asks $99/SF. The 2 bordering markets run from $51/SF in Ithaca to $135/SF in Shepherd, and the city sits above their $93/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Alma?
How much does it cost to lease commercial space in Alma?
How does Alma compare to nearby markets on price?
What zoning applies to commercial property in Alma?
Where does Realmo's Alma market data come from?
Methodology & data sources
- Asking prices and medians
- There are 31 active for-sale and 16 active for-lease listings in Alma, MI. The medians are based on 24 of the for-sale and 11 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
