Commercial Real Estate Market in Ithaca, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
14 active listings and 366 off-market properties in Ithaca, MI. Commercial property asks $55/SF to buy and $13.14/SF/Yr to lease.
Market Trends
Ithaca, MI spans 120.6 square miles in Gratiot County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Ithaca, MI asks $30/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Ithaca, MI asks $37/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ithaca, 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 space in Ithaca, MI asks $78/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 65.8%
- Industrial 24.8%
- Commercial 7.7%
- Civic 1.7%
Largest Zones share of zoned land by district
Rural Residential
Suburban Residential
Industrial
General Commercial
Planned Industrial Park
Ithaca, MI zones 3,288 acres across 9 districts. Commercial zoning covers 7.7% of zoned land, residential 65.8% and industrial 24.8%. The largest single district is Rural Residential at 40.4%. For commercial buyers the practical constraint is that only 32.5% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Ithaca, MI has 5,934 residents in 2,517 households. Density runs 49 people per square mile. Median household income here is $63,844 and median gross rent $819 a month.
5,934
Population
2,517
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
120.6 sq mi
ZIP Area
49
Density / Sq Mi
$63,844
Median Household Income
$32,767
Median Earnings
$819
Median Rent
$163,657
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| North Star | — | — |
| Pompeii | — | — |
| Ashley | — | — |
| Perrinton | — | — |
Commercial property in Ithaca, MI asks $55/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ithaca?
Commercial property in Ithaca, MI asks an average of $55 per square foot. Multifamily carries the highest asking price at $78/SF.
How much does it cost to lease commercial space in Ithaca?
Asking lease rates in Ithaca, MI average $13.14 per square foot per year.
What zoning applies to commercial property in Ithaca?
Ithaca, MI zones 3,288 acres across 9 districts, of which 7.7% is commercial and 24.8% industrial. The largest single district is Rural Residential at 40.4% of zoned land. Residential zoning covers 65.8% and open space 0%.
Where does Realmo's Ithaca market data come from?
Realmo compiles Ithaca, MI figures from 3 recent recorded sales, 12 active sale listings, 2 active lease listings, 366 tracked off-market properties, the current Ithaca zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 12 active for-sale and 2 active for-lease listings in Ithaca, 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: 3,288 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 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
