Commercial Real Estate Market in Caro, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
22 active listings and 762 off-market properties in Caro, MI. Commercial property asks $166/SF to buy and $2.11/SF/Yr to lease.
Market Trends
Caro, MI spans 131.8 square miles in Tuscola County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Caro, 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 Caro, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Caro, 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 Caro, 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 63.7%
- Commercial 16.8%
- Industrial 15.4%
- Mixed use 1.7%
- Open space 0.6%
Largest Zones share of zoned land by district
One Family Residential
One Family Residential
General Business
General Industrial
Light Industrial
Caro, MI zones 1,764 acres across 21 districts. Commercial zoning covers 16.8% of zoned land, residential 63.7%, open space 0.6% and industrial 15.4%. The largest single district is One Family Residential at 35.1%. For commercial buyers the practical constraint is that only 32.2% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Caro, MI has 11,953 residents in 5,175 households. Density runs 91 people per square mile. Median household income here is $56,618 and median gross rent $737 a month.
11,953
Population
5,175
Households
2.3
Avg Household Size
45
Median Age
18%
College-Educated
91%
High-School Grad
131.8 sq mi
ZIP Area
91
Density / Sq Mi
$56,618
Median Household Income
$40,543
Median Earnings
$737
Median Rent
$131,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Fairgrove | — | — |
| Akron | — | — |
| Gilford | — | — |
| Deford | — | — |
Commercial property in Caro, MI asks $166/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Caro?
Commercial property in Caro, MI asks an average of $166 per square foot.
How much does it cost to lease commercial space in Caro?
Asking lease rates in Caro, MI average $2.11 per square foot per year.
What zoning applies to commercial property in Caro?
Caro, MI zones 1,764 acres across 21 districts, of which 16.8% is commercial and 15.4% industrial. The largest single district is One Family Residential at 35.1% of zoned land. Residential zoning covers 63.7% and open space 0.6%.
Where does Realmo's Caro market data come from?
Realmo compiles Caro, MI figures from 4 recent recorded sales, 17 active sale listings, 5 active lease listings, 762 tracked off-market properties, the current Caro zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 17 active for-sale and 5 active for-lease listings in Caro, 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: 1,764 zoned acres across 21 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
