Commercial Real Estate Market in Manistee, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
129 active listings and 755 off-market properties in Manistee, MI. Commercial property asks $10/SF to buy and $40.38/SF/Yr to lease.
Market Trends
Manistee, MI spans 171.4 square miles in Manistee County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Manistee, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail space in Manistee, MI asks $117/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 Manistee, 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 vacancy in Manistee, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 68.5%
- Industrial 10.2%
- Commercial 8.5%
- Planned_development 2.7%
- Mixed use 1.3%
Largest Zones share of zoned land by district
Medium Density Residential
Low Density Residential
Golf Course
General Industrial
High Density Residential
Manistee, MI zones 2,290 acres across 11 districts. Commercial zoning covers 8.5% of zoned land, residential 68.5% and industrial 10.2%. The largest single district is Medium Density Residential at 39.6%. For commercial buyers the practical constraint is that only 18.7% of land carries a commercial or industrial designation.
Medium Density Residential (R-2)
It is the intent of this District to establish and protect residential areas consisting primarily of medium density, single-family neighborhoods and multi-family communities designed and maintained promote an attractive, walkable, healthy and stable living environment for families, singles and the elderly.
Market overview
Demographics & Economy
Manistee, MI has 14,134 residents in 7,744 households. Density runs 82 people per square mile. Median household income here is $62,211 and median gross rent $787 a month.
14,134
Population
7,744
Households
1.8
Avg Household Size
49
Median Age
24%
College-Educated
90%
High-School Grad
171.4 sq mi
ZIP Area
82
Density / Sq Mi
$62,211
Median Household Income
$35,772
Median Earnings
$787
Median Rent
$170,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Eastlake | — | — |
| Filer City | — | — |
| Stronach | — | — |
| Onekama | — | — |
Commercial property in Manistee, MI asks $10/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Manistee?
Commercial property in Manistee, MI asks an average of $10 per square foot. Retail carries the highest asking price at $117/SF.
How much does it cost to lease commercial space in Manistee?
Asking lease rates in Manistee, MI average $40.38 per square foot per year.
What zoning applies to commercial property in Manistee?
Manistee, MI zones 2,290 acres across 11 districts, of which 8.5% is commercial and 10.2% industrial. The largest single district is Medium Density Residential at 39.6% of zoned land. It is the intent of this District to establish and protect residential areas consisting primarily of medium density, single-family neighborhoods and multi-family communities designed and maintained promote an attractive, walkable, healthy and stable living environment for families, singles and the elderly. Residential zoning covers 68.5% and open space 0%.
Where does Realmo's Manistee market data come from?
Realmo compiles Manistee, MI figures from 4 recent recorded sales, 120 active sale listings, 9 active lease listings, 755 tracked off-market properties, the current Manistee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 120 active for-sale and 9 active for-lease listings in Manistee, 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: 2,290 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 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
