Commercial Real Estate Market in Baldwin, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
90 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 August 2026.
Office
Office vacancy in Baldwin, 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 Baldwin, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Baldwin, 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 67.2%
- Commercial 19.4%
- Industrial 10.9%
- Planned_development 2.3%
Largest Zones share of zoned land by district
Single Family Residential
Medium Density Residential
Multifamily Residential
Light Industrial
Village Center Commercial
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.
Medium Density Residential (R-2)
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.
4,979
Population
5,773
Households
0.9
Avg Household Size
50
Median Age
10%
College-Educated
77%
High-School Grad
113.8 sq mi
ZIP Area
44
Density / Sq Mi
$39,567
Median Household Income
$22,699
Median Earnings
$854
Median Rent
$110,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Idlewild | — | — |
| Chase | — | — |
| Peacock | — | — |
| Branch | — | — |
Commercial property in Baldwin, MI asks $1,113/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Baldwin?
Commercial property in Baldwin, MI asks an average of $1,113 per square foot.
What zoning applies to commercial property in Baldwin?
Baldwin, MI zones 823 acres across 9 districts, of which 19.4% is commercial and 10.9% industrial. The largest single district is Single Family Residential at 26.8% of zoned land. Residential zoning covers 67.2% and open space 0%.
Where does Realmo's Baldwin market data come from?
Realmo compiles Baldwin, MI figures from 89 active sale listings, 1 active lease listings, 214 tracked off-market properties, the current Baldwin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 89 active for-sale and 1 active for-lease listings in Baldwin, 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: 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 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
