Commercial Real Estate Market in Marquette, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
78 active listings and 1,185 off-market properties in Marquette, MI. Commercial property asks $292/SF to buy and $14.61/SF/Yr to lease.
Market Trends
Marquette, MI spans 206.9 square miles in Marquette County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Marquette, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Marquette, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Marquette, 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 Marquette, MI asks $108/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 21.5%
- Agricultural 20.2%
- Civic 16.3%
- Commercial 7.9%
- Planned_development 6.3%
- Mixed use 6%
- Industrial 5.7%
Largest Zones share of zoned land by district
Conservation And Recreation District
Civic District
Medium Density Residential District
Board Of Light And Power District
Municipal District
Conservation And Recreation District (CR)
The intent of the CR district is to preserve the character of land in the city which have outstanding scenic or recreational qualities by restricting development not suited to this goal, to prevent development of land which has great ecological value or where there are natural hazards to development to preserveopen areasfor forestry,agricultureand recreation…
Market overview
Demographics & Economy
Marquette, MI has 32,929 residents in 15,779 households. Density runs 159 people per square mile. Median household income here is $62,321 and median gross rent $992 a month.
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Harvey | — | — |
| Negaunee | — | — |
| Ishpeming | — | — |
| Skandia | — | — |
Commercial property in Marquette, MI asks $292/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Marquette?
Commercial property in Marquette, MI asks an average of $292 per square foot. Multifamily carries the highest asking price at $108/SF.
How much does it cost to lease commercial space in Marquette?
Asking lease rates in Marquette, MI average $14.61 per square foot per year.
Where does Realmo's Marquette market data come from?
Realmo compiles Marquette, MI figures from 74 active sale listings, 4 active lease listings, 1,185 tracked off-market properties, the current Marquette zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 74 active for-sale and 4 active for-lease listings in Marquette, 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: 6,456 zoned acres across 27 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
