Commercial Real Estate Market in Elmira, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
36 active listings and 138 off-market properties in Elmira, MI.
Market Trends
Elmira, MI spans 95.6 square miles in Otsego County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Elmira, 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 Elmira, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Elmira, 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 Elmira, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Elmira, MI has 2,248 residents in 1,376 households. Density runs 24 people per square mile. Median household income here is $82,740 and median gross rent $877 a month.
2,248
Population
1,376
Households
1.6
Avg Household Size
43
Median Age
22%
College-Educated
92%
High-School Grad
95.6 sq mi
ZIP Area
24
Density / Sq Mi
$82,740
Median Household Income
$40,508
Median Earnings
$877
Median Rent
$185,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Alba | — | — |
| Boyne Falls | — | — |
| Vanderbilt | — | — |
| Gaylord | — | $82.33 |
Commercial property in Elmira, MI asks $104/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elmira?
Commercial property in Elmira, MI asks an average of $104 per square foot.
Methodology & data sources
- Asking prices and averages
- Computed from 36 active for-sale and 0 active for-lease listings in Elmira, 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.
- 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
