Commercial Real Estate Market in Onaway, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 273 off-market properties in Onaway, MI.
Market Trends
Onaway, MI spans 238.1 square miles in Presque Isle County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Onaway, 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 Onaway, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Onaway, 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 Onaway, 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 40.8%
- Commercial 21.4%
- Industrial 13.8%
Largest Zones share of zoned land by district
Community Facilities
General Commercial
Medium Density Residential
Industrial
Low Density Residential
Onaway, MI zones 984 acres across 10 districts. Commercial zoning covers 21.4% of zoned land, residential 40.8% and industrial 13.8%. The largest single district is Community Facilities at 23.9%. For commercial buyers the practical constraint is that only 35.3% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Onaway, MI has 3,898 residents in 2,787 households. Density runs 16 people per square mile. Median household income here is $53,125 and median gross rent $753 a month.
3,898
Population
2,787
Households
1.4
Avg Household Size
50
Median Age
15%
College-Educated
89%
High-School Grad
238.1 sq mi
ZIP Area
16
Density / Sq Mi
$53,125
Median Household Income
$33,107
Median Earnings
$753
Median Rent
$114,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tower | — | — |
| Ocqueoc | — | — |
| Afton | — | — |
| Cheboygan | — | — |
Commercial property in Onaway, MI asks $324/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Onaway?
Commercial property in Onaway, MI asks an average of $324 per square foot.
What zoning applies to commercial property in Onaway?
Onaway, MI zones 984 acres across 10 districts, of which 21.4% is commercial and 13.8% industrial. The largest single district is Community Facilities at 23.9% of zoned land. Residential zoning covers 40.8% and open space 0%.
Where does Realmo's Onaway market data come from?
Realmo compiles Onaway, MI figures from 7 recent recorded sales, 9 active sale listings, 273 tracked off-market properties, the current Onaway zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 0 active for-lease listings in Onaway, 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: 984 zoned acres across 10 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
