Commercial Real Estate Market in Prescott, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
45 active listings and 141 off-market properties in Prescott, MI.
Market Trends
Prescott, MI spans 79.9 square miles in Ogemaw County, Michigan. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Prescott, MI asks $69/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Prescott, MI asks $40/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 Prescott, 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 Prescott, 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 82.1%
- Agricultural 17.9%
Largest Zones share of zoned land by district
Low Density Residential
Agricultural Rural Preservation
Prescott, MI zones 732 acres across 2 districts. The largest single district is Low Density Residential at 82.1%.
Low Density Residential (R-1)
The regulation of the R-1 District is intended to provide for a stable and sound family residential environment with its appropriate neighborhood related urban utilities, facilities, and service
Market overview
Demographics & Economy
Prescott, MI has 4,057 residents in 3,087 households. Density runs 51 people per square mile. Median household income here is $39,435 and median gross rent $851 a month.
4,057
Population
3,087
Households
1.3
Avg Household Size
49
Median Age
7%
College-Educated
83%
High-School Grad
79.9 sq mi
ZIP Area
51
Density / Sq Mi
$39,435
Median Household Income
$27,367
Median Earnings
$851
Median Rent
$85,300
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Prescott?
Commercial property in Prescott, MI asks an average of $87 per square foot. Office carries the highest asking price at $69/SF.
What zoning applies to commercial property in Prescott?
Prescott, MI zones 732 acres across 2 districts, of which 0% is commercial and 0% industrial. The largest single district is Low Density Residential at 82.1% of zoned land. The regulation of the R-1 District is intended to provide for a stable and sound family residential environment with its appropriate neighborhood related urban utilities, facilities, and service Residential zoning covers 82.1% and open space 0%.
Where does Realmo's Prescott market data come from?
Realmo compiles Prescott, MI figures from 45 active sale listings, 141 tracked off-market properties, the current Prescott zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 45 active for-sale and 0 active for-lease listings in Prescott, 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: 732 zoned acres across 2 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 · report a data issue
