Commercial Real Estate Market in Marshall, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
29 active listings and 845 off-market properties in Marshall, MI. Commercial property asks $94/SF to buy and $14.00/SF/Yr to lease (based on 5 listings).
Market Trends
Marshall, MI spans 129.9 square miles in Calhoun County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Marshall, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Marshall, MI has a median asking sale price of $128/SF (based on 4 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Marshall, MI has a median asking sale price of $101/SF (based on 4 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily vacancy in Marshall, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Albion | $119 | — |
| Battle Creek | $79 | $10.00 |
| Springfield | $116 | — |
Commercial property in Marshall, MI asks $94/SF. The 3 bordering markets run from $79/SF in Battle Creek to $119/SF in Albion, and the city sits below their $116/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Marshall?
How much does it cost to lease commercial space in Marshall?
How does Marshall compare to nearby markets on price?
What zoning applies to commercial property in Marshall?
Where does Realmo's Marshall market data come from?
Methodology & data sources
- Asking prices and medians
- There are 22 active for-sale and 7 active for-lease listings in Marshall, MI. The medians are based on 12 of the for-sale and 5 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
