Commercial Real Estate Market in Portage, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
227 active listings and 1,730 off-market properties in Portage, MI. Commercial property asks $38/SF to buy and $19.28/SF/Yr to lease.
Market Trends
Portage, MI spans 34.5 square miles in Kalamazoo County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Portage, MI asks $38.58/SF/Yr to lease and $113/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Portage, MI asks $135/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 Portage, 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 Portage, MI asks $80/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 64.6%
- Industrial 17.9%
- Planned_development 8.5%
- Commercial 4.9%
- Civic 2.3%
- Mixed use 1.1%
- Open space 0%
Largest Zones share of zoned land by district
One Family Residential
One Family Residential
Heavy Industrial
One Family Residential
Planned Development
Portage, MI zones 18,252 acres across 22 districts. Commercial zoning covers 4.9% of zoned land, residential 64.6%, open space 0% and industrial 17.9%. The largest single district is One Family Residential at 27.7%. For commercial buyers the practical constraint is that only 22.8% of land carries a commercial or industrial designation.
One Family Residential (R-1B)
Residential districts are designed to be the most restrictive of the residential districts. The intent is to provide for an environment of predominantly low-density single-unit dwellings along with other residentially related facilities that serve the residents in the district
Market overview
Demographics & Economy
Portage, MI has 49,885 residents in 22,207 households. Density runs 1,444 people per square mile. Median household income here is $80,624 and median gross rent $1,091 a month.
49,885
Population
22,207
Households
2.2
Avg Household Size
39
Median Age
48%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
1,444
Density / Sq Mi
$80,624
Median Household Income
$48,356
Median Earnings
$1,091
Median Rent
$238,627
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Vicksburg | — | — |
| Kalamazoo | — | $20.03 |
| Schoolcraft | — | $14.93 |
| Oshtemo | — | — |
Commercial property in Portage, MI asks $38/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Portage?
Commercial property in Portage, MI asks an average of $38 per square foot. Retail carries the highest asking price at $135/SF.
How much does it cost to lease commercial space in Portage?
Asking lease rates in Portage, MI average $19.28 per square foot per year. Office asks $38.58/SF/Yr as of Q1 26, up from $19.18/SF/Yr in Q4 25.
What zoning applies to commercial property in Portage?
Portage, MI zones 18,252 acres across 22 districts, of which 4.9% is commercial and 17.9% industrial. The largest single district is One Family Residential at 27.7% of zoned land. Residential districts are designed to be the most restrictive of the residential districts. The intent is to provide for an environment of predominantly low-density single-unit dwellings along with other residentially related facilities that serve the residents in the district Residential zoning covers 64.6% and open space 0%.
Where does Realmo's Portage market data come from?
Realmo compiles Portage, MI figures from 2 recent recorded sales, 104 active sale listings, 123 active lease listings, 1,730 tracked off-market properties, the current Portage zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 104 active for-sale and 123 active for-lease listings in Portage, 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: 18,252 zoned acres across 22 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
