Commercial Real Estate Market in Ishpeming, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
35 active listings and 526 off-market properties in Ishpeming, MI. Commercial property asks $65/SF to buy and $12.00/SF/Yr to lease (based on 3 listings).
Market Trends
Ishpeming, MI spans 241.4 square miles in Marquette County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Ishpeming, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Ishpeming, MI has a median asking sale price of $54/SF. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Ishpeming, 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 space in Ishpeming, MI has a median asking sale price of $70/SF. Vacancy 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
- Residential 25.3%
- Planned_development 22.5%
- Commercial 9.6%
- Industrial 6.8%
Largest Zones share of zoned land by district
Market overview
Demographics & Economy
Ishpeming, MI has 11,819 residents in 5,915 households. Density runs 49 people per square mile. Median household income here is $63,425 and median gross rent $769 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Ishpeming?
How much does it cost to lease commercial space in Ishpeming?
Where does Realmo's Ishpeming market data come from?
Methodology & data sources
- Asking prices and medians
- There are 32 active for-sale and 3 active for-lease listings in Ishpeming, MI. The medians are based on 23 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: 5,971 zoned acres across 9 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
