Commercial Real Estate Market in Grand Rapids, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
552 active listings and 9,809 off-market properties in Grand Rapids, MI. Commercial property asks $145/SF to buy and $17.00/SF/Yr to lease.
Market Trends
Grand Rapids, MI spans 197.1 square miles in Kent County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Grand Rapids, MI asks $20.87/SF/Yr to lease; the median asking sale price is $125/SF. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Grand Rapids, MI asks $15.80/SF/Yr to lease; the median asking sale price is $194/SF.
Industrial
Industrial space in Grand Rapids, MI asks $10.18/SF/Yr to lease; the median asking sale price is $94/SF. Vacancy 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 space in Grand Rapids, MI has a median asking sale price of $195/SF (based on 7 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
Grand Rapids, MI has 434,060 residents in 180,056 households. Density runs 2,202 people per square mile. Median household income here is $74,219 and median gross rent $1,189 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Comstock Park | $258 | $14.97 |
| Rockford | $172 | $12.00 |
| Walker | $206 | — |
| Kentwood | $149 | $16.23 |
Commercial property in Grand Rapids, MI asks $145/SF. The 4 bordering markets run from $149/SF in Kentwood to $258/SF in Comstock Park, and the city sits below their $189/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Grand Rapids?
How much does it cost to lease commercial space in Grand Rapids?
How does Grand Rapids compare to nearby markets on price?
Where does Realmo's Grand Rapids market data come from?
Methodology & data sources
- Asking prices and medians
- There are 286 active for-sale and 266 active for-lease listings in Grand Rapids, MI. The medians are based on 126 of the for-sale and 204 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.
- 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, industrial vacancy is reported at Midwest region level, multifamily vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
