Commercial Real Estate Market in Bellaire, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
13 active listings and 522 off-market properties in Bellaire, MI.
Market Trends
Bellaire, MI spans 68.4 square miles in Antrim County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Bellaire, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Bellaire, MI has a median asking sale price of $145/SF (based on 4 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Bellaire, 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 Bellaire, MI has a median asking sale price of $221/SF (based on 4 listings). 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 30.4%
- Open space 29.4%
- Commercial 20.1%
- Industrial 1.1%
Largest Zones share of zoned land by district
Bellaire, MI zones 1,237 acres across 8 districts. Commercial zoning covers 20.1% of zoned land, residential 30.4%, open space 29.4% and industrial 1.1%. The largest single district is Single Family Residential at 29.4%. For commercial buyers the practical constraint is that only 21.2% of land carries a commercial or industrial designation.
The purpose of this district and its accompanying regulations is to provide for a stable and sound residential environment on lots of sufficient area to accommodate the Village sewer system
Market overview
Demographics & Economy
Bellaire, MI has 4,161 residents in 3,575 households. Density runs 61 people per square mile. Median household income here is $78,750 and median gross rent $775 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Elk Rapids | $169 | $18.15 |
| Mancelona | $181 | — |
Commercial property in Bellaire, MI asks $215/SF. The 2 bordering markets run from $169/SF in Elk Rapids to $181/SF in Mancelona, and the city sits above their $175/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Bellaire?
How does Bellaire compare to nearby markets on price?
What zoning applies to commercial property in Bellaire?
Where does Realmo's Bellaire market data come from?
Methodology & data sources
- Asking prices and medians
- There are 13 active for-sale and 0 active for-lease listings in Bellaire, 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: 1,237 zoned acres across 8 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
