Commercial Real Estate Market in Empire, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
55 active listings and 378 off-market properties in Empire, MI.
Market Trends
Empire, MI spans 60.5 square miles in Leelanau County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Empire, 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 Empire, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Empire, 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 Empire, 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 45.1%
- Open space 32.3%
- Planned_development 17.3%
- Commercial 4.7%
- Industrial 0.7%
Largest Zones share of zoned land by district
General Residential
Recreation And Conservation
Planned Unit Development
Gateway Corridor
Village Residential
Empire, MI zones 741 acres across 8 districts. Commercial zoning covers 4.7% of zoned land, residential 45.1%, open space 32.3% and industrial 0.7%. The largest single district is General Residential at 37.9%. For commercial buyers the practical constraint is that only 5.3% of land carries a commercial or industrial designation.
General Residential (GR)
This district is intended to provide for predominantly low to medium density residential development which is similar in scale and character to existing neighborhoods
Market overview
Demographics & Economy
Empire, MI has 1,331 residents in 1,418 households. Density runs 22 people per square mile. Median household income here is $101,875 and median gross rent $1,042 a month.
1,331
Population
1,418
Households
0.9
Avg Household Size
61
Median Age
56%
College-Educated
99%
High-School Grad
60.5 sq mi
ZIP Area
22
Density / Sq Mi
$101,875
Median Household Income
$39,519
Median Earnings
$1,042
Median Rent
$440,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Glen Arbor | — | — |
| Maple City | — | — |
| Honor | — | — |
| Lake Ann | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Empire?
Empire, MI zones 741 acres across 8 districts, of which 4.7% is commercial and 0.7% industrial. The largest single district is General Residential at 37.9% of zoned land. This district is intended to provide for predominantly low to medium density residential development which is similar in scale and character to existing neighborhoods Residential zoning covers 45.1% and open space 32.3%.
Where does Realmo's Empire market data come from?
Realmo compiles Empire, MI figures from 55 active sale listings, 378 tracked off-market properties, the current Empire zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 55 active for-sale and 0 active for-lease listings in Empire, 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: 741 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 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
