Commercial Real Estate Market in Marshall, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
78 active listings and 845 off-market properties in Marshall, MI. Commercial property asks $41/SF to buy and $12.40/SF/Yr to lease.
Market Trends
Marshall, MI spans 129.9 square miles in Calhoun County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Marshall, MI asks $109/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 Marshall, MI asks $97/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 Marshall, 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 Marshall, 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
- Industrial 42.7%
- Residential 29.8%
- Civic 14.4%
- Commercial 8.1%
- Planned_development 1.9%
Largest Zones share of zoned land by district
Suburban Residential
Research And Manufacturing
Industrial And Manufacturing Complex
Public And Semi Public Services
Traditional Residential
Marshall, MI zones 4,908 acres across 17 districts. Commercial zoning covers 8.1% of zoned land, residential 29.8% and industrial 42.7%. The largest single district is Suburban Residential at 28%. For commercial buyers the practical constraint is that only 50.9% of land carries a commercial or industrial designation.
Suburban Residential (R-2)
R-2 Suburban Residential District 3.1.2 A. PURPOSE B. PRINCIPAL PERMITTED USES The purpose of this residential district is to provide a pleasant and attractive living environment that is consistent with the existing development as well as in areas proposed for new residential development. The Suburban Residential district is intended to be a setting for prim…
Market overview
Demographics & Economy
Marshall, MI has 14,325 residents in 6,901 households. Density runs 110 people per square mile. Median household income here is $78,476 and median gross rent $904 a month.
14,325
Population
6,901
Households
2.1
Avg Household Size
45
Median Age
36%
College-Educated
96%
High-School Grad
129.9 sq mi
ZIP Area
110
Density / Sq Mi
$78,476
Median Household Income
$47,198
Median Earnings
$904
Median Rent
$196,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ceresco | — | — |
| Albion | — | — |
| Battle Creek | — | $12.79 |
| Tekonsha | — | — |
Commercial property in Marshall, MI asks $41/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Marshall?
Commercial property in Marshall, MI asks an average of $41 per square foot. The 6 most recent recorded sales traded at a median of $92/SF. Office carries the highest asking price at $109/SF.
How much does it cost to lease commercial space in Marshall?
Asking lease rates in Marshall, MI average $12.40 per square foot per year.
What zoning applies to commercial property in Marshall?
Marshall, MI zones 4,908 acres across 17 districts, of which 8.1% is commercial and 42.7% industrial. The largest single district is Suburban Residential at 28% of zoned land. R-2 Suburban Residential District 3.1.2 A. PURPOSE B. PRINCIPAL PERMITTED USES The purpose of this residential district is to provide a pleasant and attractive living environment that is consistent with the existing development as well as in areas proposed for new residential development. The Suburban Residential district is intended to be a setting for prim… Residential zoning covers 29.8% and open space 0%.
Where does Realmo's Marshall market data come from?
Realmo compiles Marshall, MI figures from 6 recent recorded sales, 68 active sale listings, 10 active lease listings, 845 tracked off-market properties, the current Marshall zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 68 active for-sale and 10 active for-lease listings in Marshall, 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: 4,908 zoned acres across 17 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
