Commercial Real Estate Market in Royal Oak, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
116 active listings and 1,213 off-market properties in Royal Oak, MI. Commercial property asks $247/SF to buy and $25.00/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 October 2026.
Office
Office space in Royal Oak, MI has a median asking sale price of $253/SF (based on 8 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Royal Oak, MI has a median asking sale price of $361/SF (based on 5 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily space in Royal Oak, MI has a median asking sale price of $208/SF (based on 7 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Madison Heights | $103 | $14.25 |
| Ferndale | $211 | $21.33 |
| Hazel Park | $90 | $15.89 |
| Berkley | $120 | $16.00 |
Commercial property in Royal Oak, MI asks $247/SF. The 4 bordering markets run from $90/SF in Hazel Park to $211/SF in Ferndale, and the city sits above their $111/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Royal Oak?
How much does it cost to lease commercial space in Royal Oak?
How does Royal Oak compare to nearby markets on price?
Where does Realmo's Royal Oak market data come from?
Methodology & data sources
- Asking prices and medians
- There are 43 active for-sale and 73 active for-lease listings in Royal Oak, MI. The medians are based on 20 of the for-sale and 36 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.
- 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
