Commercial Real Estate Market in Cadillac, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
219 active listings and 1,453 off-market properties in Cadillac, MI. Commercial property asks $186/SF to buy and $8.12/SF/Yr to lease.
Market Trends
Cadillac, MI spans 220.0 square miles in Wexford County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Cadillac, MI asks $153/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Cadillac, MI asks $82/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Cadillac, 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 Cadillac, 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 49.7%
- Industrial 22.7%
- Open space 8.8%
- Planned_development 8.4%
- Commercial 4.3%
Largest Zones share of zoned land by district
Light Industrial District
One Family Residential District
One Family Residential District
Parks And Open Space District
One Family Residential District
Cadillac, MI zones 4,600 acres across 29 districts. Commercial zoning covers 4.3% of zoned land, residential 49.7%, open space 8.8% and industrial 22.7%. The largest single district is Light Industrial District at 19.3%. For commercial buyers the practical constraint is that only 27% of land carries a commercial or industrial designation.
Parks And Open Space District (POS)
The Public Open Space District (POS) has been established to recognize public lands which accommodate a range of recreational opportunities, offer habitat for wildlife and plant species, provide access to and vistas of Lake Cadillac and Lake Mitchell, and foster a desirable environment for the general health, welfare and enjoyment of the citizens and guests…
Market overview
Demographics & Economy
Cadillac, MI has 21,564 residents in 10,734 households. Density runs 98 people per square mile. Median household income here is $65,704 and median gross rent $856 a month.
21,564
Population
10,734
Households
2
Avg Household Size
43
Median Age
25%
College-Educated
91%
High-School Grad
220 sq mi
ZIP Area
98
Density / Sq Mi
$65,704
Median Household Income
$37,347
Median Earnings
$856
Median Rent
$166,500
Median Home Value
Tools
Lease vs Buy Breakeven
At $8.12/SF/Yr lease vs $186/SF buy → buying wins if held > 15.8 years.
At a 4.4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Boon | — | — |
| Manton | — | — |
| Harrietta | — | — |
| Tustin | — | — |
Commercial property in Cadillac, MI asks $186/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Cadillac?
Commercial property in Cadillac, MI asks an average of $186 per square foot. Office carries the highest asking price at $153/SF.
How much does it cost to lease commercial space in Cadillac?
Asking lease rates in Cadillac, MI average $8.12 per square foot per year.
Is it cheaper to lease or buy commercial space in Cadillac?
Buying beats leasing in Cadillac, MI if the property is held longer than 15.8 years, comparing $8.12/SF/Yr asking rent with $186/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Cadillac?
Cadillac, MI zones 4,600 acres across 29 districts, of which 4.3% is commercial and 22.7% industrial. The largest single district is Light Industrial District at 19.3% of zoned land. Residential zoning covers 49.7% and open space 8.8%.
Where does Realmo's Cadillac market data come from?
Realmo compiles Cadillac, MI figures from 190 active sale listings, 29 active lease listings, 1,453 tracked off-market properties, the current Cadillac zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 190 active for-sale and 29 active for-lease listings in Cadillac, 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: 4,600 zoned acres across 29 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
