Commercial Real Estate Market in Merrill, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 161 off-market properties in Merrill, MI.
Market Trends
Merrill, MI spans 70.9 square miles in Saginaw County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Merrill, MI asks $63/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 Merrill, MI asks $52/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 Merrill, 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 Merrill, MI asks $68/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 75%
- Industrial 21.4%
- Commercial 3.6%
Largest Zones share of zoned land by district
Single Family Residential
Agricultural And Low Density Residential
Light Manufacturing
Neighborhood Commercial
Intensive Commercial
Merrill, MI zones 453 acres across 6 districts. Commercial zoning covers 3.6% of zoned land, residential 75% and industrial 21.4%. The largest single district is Single Family Residential at 43.2%. For commercial buyers the practical constraint is that only 25% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
The intent of this zone is to permit the development of residences at low densities on individual lots
Market overview
Demographics & Economy
Merrill, MI has 3,120 residents in 1,319 households. Density runs 44 people per square mile. Median household income here is $63,900 and median gross rent $736 a month.
3,120
Population
1,319
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
95%
High-School Grad
70.9 sq mi
ZIP Area
44
Density / Sq Mi
$63,900
Median Household Income
$41,509
Median Earnings
$736
Median Rent
$140,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Wheeler | — | — |
| Breckenridge | — | — |
| Brant | — | — |
| Saint Charles | — | — |
Commercial property in Merrill, MI asks $60/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Merrill?
Commercial property in Merrill, MI asks an average of $60 per square foot. Multifamily carries the highest asking price at $68/SF.
What zoning applies to commercial property in Merrill?
Merrill, MI zones 453 acres across 6 districts, of which 3.6% is commercial and 21.4% industrial. The largest single district is Single Family Residential at 43.2% of zoned land. The intent of this zone is to permit the development of residences at low densities on individual lots Residential zoning covers 75% and open space 0%.
Where does Realmo's Merrill market data come from?
Realmo compiles Merrill, MI figures from 5 recent recorded sales, 4 active sale listings, 161 tracked off-market properties, the current Merrill zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 0 active for-lease listings in Merrill, 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: 453 zoned acres across 6 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
