Commercial Real Estate Market in Otsego, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
11 active listings and 342 off-market properties in Otsego, MI. Commercial property asks $140/SF to buy (based on 4 listings) and $15.00/SF/Yr to lease (based on 3 listings).
Market Trends
Otsego, MI spans 49.5 square miles in Allegan County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Otsego, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Otsego, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Otsego, 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%.
Multifamily
Multifamily vacancy in Otsego, 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
- Residential 71.7%
- Industrial 17.1%
- Special 4.6%
- Commercial 4.1%
- Civic 2.5%
Largest Zones share of zoned land by district
Otsego, MI zones 1,340 acres across 9 districts. Commercial zoning covers 4.1% of zoned land, residential 71.7% and industrial 17.1%. The largest single district is Single And Two Family Residential at 54.2%. For commercial buyers the practical constraint is that only 21.2% of land carries a commercial or industrial designation.
This zoning district encompasses some of the older localities of the city. The residential character is mainly urban, single-family homes of earlier construction on individual lots. Two-family homes and new duplexes are permitted here, but with controls as to location, site and density.
Market overview
Demographics & Economy
Otsego, MI has 9,483 residents in 4,315 households. Density runs 191 people per square mile. Median household income here is $77,517 and median gross rent $1,106 a month.
Tools
Nearby Markets
Commercial property in Otsego, MI asks $140/SF. The 2 bordering markets run from $71/SF in Allegan to $87/SF in Plainwell, and the city sits above their $79/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Otsego?
How much does it cost to lease commercial space in Otsego?
How does Otsego compare to nearby markets on price?
What zoning applies to commercial property in Otsego?
Where does Realmo's Otsego market data come from?
Methodology & data sources
- Asking prices and medians
- There are 7 active for-sale and 4 active for-lease listings in Otsego, MI. The medians are based on 4 of the for-sale and 3 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: 1,340 zoned acres across 9 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
