Commercial Real Estate Market in Sherwood, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
3,081 active listings and 40,823 off-market properties in Sherwood, MI. Commercial property asks $77/SF to buy and $20.55/SF/Yr to lease.
Market Trends
Sherwood, MI spans 37.8 square miles in Wayne County, Michigan. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Sherwood, MI asks $21.66/SF/Yr to lease and $86/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Sherwood, MI asks $19.63/SF/Yr to lease and $101/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Sherwood, 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 Sherwood, MI asks $69/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
Sherwood, MI has 1,672 residents in 795 households. Density runs 44 people per square mile. Median household income here is $61,900 and median gross rent $841 a month.
1,672
Population
795
Households
2.1
Avg Household Size
44
Median Age
9%
College-Educated
88%
High-School Grad
37.8 sq mi
ZIP Area
44
Density / Sq Mi
$61,900
Median Household Income
$42,401
Median Earnings
$841
Median Rent
$121,400
Median Home Value
Tools
Nearby Markets
Commercial property in Sherwood, MI asks $77/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Sherwood?
Commercial property in Sherwood, MI asks an average of $77 per square foot. Retail carries the highest asking price at $101/SF.
How much does it cost to lease commercial space in Sherwood?
Asking lease rates in Sherwood, MI average $20.55 per square foot per year. Office asks $21.66/SF/Yr as of Q2 26, up from $19.11/SF/Yr in Q1 26.
Where does Realmo's Sherwood market data come from?
Realmo compiles Sherwood, MI figures from 3 recent recorded sales, 2,739 active sale listings, 342 active lease listings, 40,823 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2,739 active for-sale and 342 active for-lease listings in Sherwood, 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.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- 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 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
