Commercial Real Estate Market in Portland, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
8 active listings and 424 off-market properties in Portland, MI. Commercial property asks $956/SF to buy and $10.00/SF/Yr to lease.
Market Trends
Portland, MI spans 85.2 square miles in Ionia County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Portland, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail space in Portland, MI asks $69/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 Portland, 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 Portland, 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 78.1%
- Commercial 9.7%
- Special 6.6%
- Mixed use 3.3%
- Industrial 1.6%
- Planned_development 0.7%
Largest Zones share of zoned land by district
Traditional Residential District
Low Density Residential District
Floodplain District
Highway Commercial District
General Business District
Portland, MI zones 1,751 acres across 11 districts. Commercial zoning covers 9.7% of zoned land, residential 78.1% and industrial 1.6%. The largest single district is Traditional Residential District at 57.9%. For commercial buyers the practical constraint is that only 11.3% of land carries a commercial or industrial designation.
Traditional Residential District (R-2)
R-2, Traditional Residential. The R-2 District comprises much of the residentially zoned land in the city. It accommodates the moderate density development that typifies the city's traditional development pattern of small lots arranged on a grid street pattern. The district also accommodates the two-family and multi-family dwellings that were established pri…
Market overview
Demographics & Economy
Portland, MI has 10,582 residents in 4,330 households. Density runs 124 people per square mile. Median household income here is $92,457 and median gross rent $1,088 a month.
10,582
Population
4,330
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
96%
High-School Grad
85.2 sq mi
ZIP Area
124
Density / Sq Mi
$92,457
Median Household Income
$50,355
Median Earnings
$1,088
Median Rent
$213,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lyons | — | — |
| Westphalia | — | — |
| Mulliken | — | — |
| Eagle | — | — |
Commercial property in Portland, MI asks $956/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Portland?
Commercial property in Portland, MI asks an average of $956 per square foot. The 3 most recent recorded sales traded at a median of $115/SF, so asking sits 733% above the achieved median. Retail carries the highest asking price at $69/SF.
How much does it cost to lease commercial space in Portland?
Asking lease rates in Portland, MI average $10.00 per square foot per year.
What zoning applies to commercial property in Portland?
Portland, MI zones 1,751 acres across 11 districts, of which 9.7% is commercial and 1.6% industrial. The largest single district is Traditional Residential District at 57.9% of zoned land. R-2, Traditional Residential. The R-2 District comprises much of the residentially zoned land in the city. It accommodates the moderate density development that typifies the city's traditional development pattern of small lots arranged on a grid street pattern. The district also accommodates the two-family and multi-family dwellings that were established pri… Residential zoning covers 78.1% and open space 0%.
Where does Realmo's Portland market data come from?
Realmo compiles Portland, MI figures from 4 recent recorded sales, 7 active sale listings, 1 active lease listings, 424 tracked off-market properties, the current Portland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 1 active for-lease listings in Portland, 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: 1,751 zoned acres across 11 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
