Commercial Real Estate Market in Madison Heights, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
83 active listings and 1,177 off-market properties in Madison Heights, MI. Commercial property asks $114/SF to buy and $12.82/SF/Yr to lease.
Market Trends
Madison Heights, MI spans 7.1 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Madison Heights, MI asks $120/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 Madison Heights, MI asks $175/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 Madison Heights, 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 Madison Heights, MI asks $159/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
Market overview
Demographics & Economy
Madison Heights, MI has 28,468 residents in 14,690 households. Density runs 4,012 people per square mile. Median household income here is $66,726 and median gross rent $1,138 a month.
28,468
Population
14,690
Households
1.9
Avg Household Size
39
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
4,012
Density / Sq Mi
$66,726
Median Household Income
$49,151
Median Earnings
$1,138
Median Rent
$190,300
Median Home Value
Tools
Lease vs Buy Breakeven
At $12.82/SF/Yr lease vs $114/SF buy → buying wins if held > 1.1 years.
At a 11.2% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Royal Oak | — | $20.32 |
| Hazel Park | — | $11.63 |
| Pleasant Ridge | — | — |
| Ferndale | — | $20.11 |
Commercial property in Madison Heights, MI asks $114/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madison Heights?
Commercial property in Madison Heights, MI asks an average of $114 per square foot. The 4 most recent recorded sales traded at a median of $163/SF. Retail carries the highest asking price at $175/SF.
How much does it cost to lease commercial space in Madison Heights?
Asking lease rates in Madison Heights, MI average $12.82 per square foot per year.
Is it cheaper to lease or buy commercial space in Madison Heights?
Buying beats leasing in Madison Heights, MI if the property is held longer than 1.1 years, comparing $12.82/SF/Yr asking rent with $114/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Madison Heights market data come from?
Realmo compiles Madison Heights, MI figures from 4 recent recorded sales, 41 active sale listings, 42 active lease listings, 1,177 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 41 active for-sale and 42 active for-lease listings in Madison Heights, 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.
- 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
