Commercial Real Estate Market in Royal Oak, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
136 active listings and 1,213 off-market properties in Royal Oak, MI. Commercial property asks $232/SF to buy and $20.32/SF/Yr to lease.
Market Trends
Royal Oak, MI spans 12.0 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Royal Oak, MI asks $120/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 Royal Oak, MI asks $175/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 Royal Oak, 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 Royal Oak, MI asks $159/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
Market overview
Demographics & Economy
Royal Oak, MI has 58,247 residents in 31,265 households. Density runs 4,873 people per square mile. Median household income here is $95,261 and median gross rent $1,325 a month.
58,247
Population
31,265
Households
1.9
Avg Household Size
37
Median Age
63%
College-Educated
97%
High-School Grad
12 sq mi
ZIP Area
4,873
Density / Sq Mi
$95,261
Median Household Income
$66,198
Median Earnings
$1,325
Median Rent
$305,502
Median Home Value
Tools
Lease vs Buy Breakeven
At $20.32/SF/Yr lease vs $232/SF buy → buying wins if held > 1.8 years.
At a 8.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Madison Heights | — | $12.82 |
| Pleasant Ridge | — | — |
| Huntington Woods | — | — |
| Ferndale | — | $20.11 |
Commercial property in Royal Oak, MI asks $232/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Royal Oak?
Commercial property in Royal Oak, MI asks an average of $232 per square foot. Retail carries the highest asking price at $175/SF.
How much does it cost to lease commercial space in Royal Oak?
Asking lease rates in Royal Oak, MI average $20.32 per square foot per year.
Is it cheaper to lease or buy commercial space in Royal Oak?
Buying beats leasing in Royal Oak, MI if the property is held longer than 1.8 years, comparing $20.32/SF/Yr asking rent with $232/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Royal Oak market data come from?
Realmo compiles Royal Oak, MI figures from 4 recent recorded sales, 73 active sale listings, 63 active lease listings, 1,213 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 73 active for-sale and 63 active for-lease listings in Royal Oak, 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.
- 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
