Commercial Real Estate Market in Shelby, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
5 active listings and 311 off-market properties in Shelby, MI.
Market Trends
Shelby, MI spans 84.8 square miles in Oceana County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Shelby, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Shelby, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Shelby, 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 vacancy in Shelby, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 76.6%
- Industrial 16.7%
- Commercial 6.7%
Largest Zones share of zoned land by district
Shelby, MI zones 1,076 acres across 7 districts. Commercial zoning covers 6.7% of zoned land, residential 76.6% and industrial 16.7%. The largest single district is Medium Density Residential at 41.9%. For commercial buyers the practical constraint is that only 23.4% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Shelby, MI has 5,197 residents in 2,733 households. Density runs 61 people per square mile. Median household income here is $65,640 and median gross rent $697 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Hart | $97 | — |
| Pentwater | $251 | — |
| Montague | $131 | — |
| Whitehall | $141 | $11.00 |
Commercial property in Shelby, MI asks $76/SF. The 4 bordering markets run from $97/SF in Hart to $251/SF in Pentwater, and the city sits below their $136/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Shelby?
How does Shelby compare to nearby markets on price?
What zoning applies to commercial property in Shelby?
Where does Realmo's Shelby market data come from?
Methodology & data sources
- Asking prices and medians
- There are 4 active for-sale and 1 active for-lease listings in Shelby, MI. The sale median is based on 3 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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.
- Zoning and land use
- The current municipal zoning release: 1,076 zoned acres across 7 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 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
