Commercial Real Estate Market in Milan, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
13 active listings and 434 off-market properties in Milan, MI. Commercial property asks $43/SF to buy and $17.00/SF/Yr to lease.
Market Trends
Milan, MI spans 77.9 square miles in Monroe County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milan, 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 Milan, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milan, 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 Milan, MI asks $97/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 55.1%
- Planned_development 18.8%
- Industrial 14.7%
- Commercial 11.5%
Largest Zones share of zoned land by district
Single Family Residential District
General Industrial District
Planned Unit Development And Single Family Residential District
Highway Service District
Single Family Residential District
Milan, MI zones 2,270 acres across 17 districts. Commercial zoning covers 11.5% of zoned land, residential 55.1% and industrial 14.7%. The largest single district is Single Family Residential District at 35.4%. For commercial buyers the practical constraint is that only 26.1% of land carries a commercial or industrial designation.
Single Family Residential District (R-1B)
The intent of the R-1A and R-1B Districts is to provide areas for single-family dwellings with the primary distinction being varying lot sizes.
Market overview
Demographics & Economy
Milan, MI has 14,097 residents in 5,224 households. Density runs 181 people per square mile. Median household income here is $99,383 and median gross rent $1,097 a month.
14,097
Population
5,224
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
77.9 sq mi
ZIP Area
181
Density / Sq Mi
$99,383
Median Household Income
$40,170
Median Earnings
$1,097
Median Rent
$251,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mooreville | — | — |
| Milan Township | — | — |
| Monroe | — | $25.30 |
| London Township | — | — |
Commercial property in Milan, MI asks $43/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milan?
Commercial property in Milan, MI asks an average of $43 per square foot. Multifamily carries the highest asking price at $97/SF.
How much does it cost to lease commercial space in Milan?
Asking lease rates in Milan, MI average $17.00 per square foot per year.
What zoning applies to commercial property in Milan?
Milan, MI zones 2,270 acres across 17 districts, of which 11.5% is commercial and 14.7% industrial. The largest single district is Single Family Residential District at 35.4% of zoned land. The intent of the R-1A and R-1B Districts is to provide areas for single-family dwellings with the primary distinction being varying lot sizes. Residential zoning covers 55.1% and open space 0%.
Where does Realmo's Milan market data come from?
Realmo compiles Milan, MI figures from 8 recent recorded sales, 11 active sale listings, 2 active lease listings, 434 tracked off-market properties, the current Milan zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 11 active for-sale and 2 active for-lease listings in Milan, 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: 2,270 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
