Commercial Real Estate Market in Frankfort, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
10 active listings and 305 off-market properties in Frankfort, MI. Commercial property asks $238/SF to buy (based on 7 listings) and $19.00/SF/Yr to lease (based on 3 listings).
Market Trends
Frankfort, MI spans 38.5 square miles in Benzie County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Frankfort, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Frankfort, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Frankfort, 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 vacancy in Frankfort, MI 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
- Agricultural 37.3%
- Residential 25.5%
- Open space 10.4%
- Civic 8.7%
- Commercial 8.7%
- Industrial 5.7%
Largest Zones share of zoned land by district
The intent of the Rural District is to maintain a district characterized by agricultural uses, natural features including, but not limited to steep slopes, woodlands, wetlands, dunes and grasslands.
Market overview
Demographics & Economy
Frankfort, MI has 3,331 residents in 3,014 households. Density runs 87 people per square mile. Median household income here is $71,875 and median gross rent $918 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Benzonia | $95 | $10.74 |
| Beulah | $97 | — |
| Honor | $145 | — |
Commercial property in Frankfort, MI asks $238/SF. The 3 bordering markets run from $95/SF in Benzonia to $145/SF in Honor, and the city sits above their $97/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Frankfort?
How much does it cost to lease commercial space in Frankfort?
How does Frankfort compare to nearby markets on price?
Where does Realmo's Frankfort market data come from?
Methodology & data sources
- Asking prices and medians
- There are 7 active for-sale and 3 active for-lease listings in Frankfort, MI. The medians are based on 7 of the for-sale and 3 of the for-lease listings, those that state a price or rent per square foot. 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: 891 zoned acres across 11 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 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 October 2026 · How Realmo checks market page data · Report a data issue
