Commercial Real Estate Market in Newberry, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
28 active listings and 370 off-market properties in Newberry, MI.
Market Trends
Newberry, MI spans 706.5 square miles in Luce County, Michigan. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Newberry, 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 Newberry, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Newberry, 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 Newberry, 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
- Residential 83.9%
- Commercial 6.2%
- Industrial 6.1%
- Mixed use 3.8%
Largest Zones share of zoned land by district
Village Residential
Recreation And Conservation
Light Industrial
Community Commercial
Mixed Use
Newberry, MI zones 644 acres across 7 districts. Commercial zoning covers 6.2% of zoned land, residential 83.9% and industrial 6.1%. The largest single district is Village Residential at 46%. For commercial buyers the practical constraint is that only 12.2% of land carries a commercial or industrial designation.
Village Residential (VR)
The Village Residential (VR) District is intended to provide a stable, low- to medium-density environment for residential development
Market overview
Demographics & Economy
Newberry, MI has 4,108 residents in 2,951 households. Density runs 6 people per square mile. Median household income here is $53,651 and median gross rent $809 a month.
4,108
Population
2,951
Households
1.4
Avg Household Size
47
Median Age
18%
College-Educated
92%
High-School Grad
706.5 sq mi
ZIP Area
6
Density / Sq Mi
$53,651
Median Household Income
$35,154
Median Earnings
$809
Median Rent
$98,400
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Newberry?
Commercial property in Newberry, MI asks an average of $74 per square foot.
What zoning applies to commercial property in Newberry?
Newberry, MI zones 644 acres across 7 districts, of which 6.2% is commercial and 6.1% industrial. The largest single district is Village Residential at 46% of zoned land. The Village Residential (VR) District is intended to provide a stable, low- to medium-density environment for residential development Residential zoning covers 83.9% and open space 0%.
Where does Realmo's Newberry market data come from?
Realmo compiles Newberry, MI figures from 28 active sale listings, 370 tracked off-market properties, the current Newberry zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 28 active for-sale and 0 active for-lease listings in Newberry, 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: 644 zoned acres across 7 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 30 September 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 30 September 2026 · How Realmo checks market page data · Report a data issue
