Commercial Real Estate Market in Baldwin, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
11 active listings and 214 off-market properties in Baldwin, MI.
Market Trends
Baldwin, MI spans 113.8 square miles in Lake County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Baldwin, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Baldwin, MI has a median asking sale price of $92/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Baldwin, 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 vacancy in Baldwin, MI 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 67.2%
- Commercial 19.4%
- Industrial 10.9%
- Planned_development 2.3%
Largest Zones share of zoned land by district
Baldwin, MI zones 823 acres across 9 districts. Commercial zoning covers 19.4% of zoned land, residential 67.2% and industrial 10.9%. The largest single district is Single Family Residential at 26.8%. For commercial buyers the practical constraint is that only 30.3% of land carries a commercial or industrial designation.
The C-PUD Overlay Zoning District shall be allowed in the R-2, C-1 and C-2 zoning districts only. 13.03 PERMITTED PRINCIPAL AND ACCESSORY USES In the Commercial Planned Unit Development Districts, the following provisions, regulations and restrictions shall apply: 1) Permitted Principal Uses a) All principal permitted uses and special uses allowed in the R-1…
Market overview
Demographics & Economy
Baldwin, MI has 4,979 residents in 5,773 households. Density runs 44 people per square mile. Median household income here is $39,567 and median gross rent $854 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Baldwin?
What zoning applies to commercial property in Baldwin?
Where does Realmo's Baldwin market data come from?
Methodology & data sources
- Asking prices and medians
- There are 10 active for-sale and 1 active for-lease listings in Baldwin, MI. The sale median is based on 8 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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: 823 zoned acres across 9 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
