Commercial Real Estate Market in Alpena, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
52 active listings and 1,605 off-market properties in Alpena, MI.
Market Trends
Alpena, MI spans 215.4 square miles in Alpena County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Alpena, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Alpena, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Alpena, 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 Alpena, 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
- Residential 45%
- Industrial 29.1%
- Commercial 16.8%
- Open space 4.8%
- Civic 2.6%
- Planned_development 1.8%
Largest Zones share of zoned land by district
Single Family Residential
Heavy Industrial District
Office And Service District
Light Industrial District
Conservation And Recreation District
Alpena, MI zones 5,202 acres across 18 districts. Commercial zoning covers 16.8% of zoned land, residential 45%, open space 4.8% and industrial 29.1%. The largest single district is Single Family Residential at 43.2%. For commercial buyers the practical constraint is that only 45.9% of land carries a commercial or industrial designation.
Single Family Residential (R-2)
The R-2 Single-Family Residential District is designed to provide for an environment of predominantly low density, single-family detached dwellings along with other related facilities which serve the residents in the district
Market overview
Demographics & Economy
Alpena, MI has 22,243 residents in 11,974 households. Density runs 103 people per square mile. Median household income here is $50,699 and median gross rent $642 a month.
22,243
Population
11,974
Households
1.9
Avg Household Size
48
Median Age
19%
College-Educated
94%
High-School Grad
215.4 sq mi
ZIP Area
103
Density / Sq Mi
$50,699
Median Household Income
$32,208
Median Earnings
$642
Median Rent
$134,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ossineke | — | — |
| Herron | — | — |
| Spruce | — | — |
| Presque Isle | — | — |
Commercial property in Alpena, MI asks $446/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Alpena?
Commercial property in Alpena, MI asks an average of $446 per square foot.
What zoning applies to commercial property in Alpena?
Alpena, MI zones 5,202 acres across 18 districts, of which 16.8% is commercial and 29.1% industrial. The largest single district is Single Family Residential at 43.2% of zoned land. The R-2 Single-Family Residential District is designed to provide for an environment of predominantly low density, single-family detached dwellings along with other related facilities which serve the residents in the district Residential zoning covers 45% and open space 4.8%.
Where does Realmo's Alpena market data come from?
Realmo compiles Alpena, MI figures from 5 recent recorded sales, 50 active sale listings, 2 active lease listings, 1,605 tracked off-market properties, the current Alpena zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 50 active for-sale and 2 active for-lease listings in Alpena, 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: 5,202 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
