Commercial Real Estate Market in Springfield, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
36 active listings and 506 off-market properties in Springfield, MI. Commercial property asks $47/SF to buy and $9.72/SF/Yr to lease.
Market Trends
Springfield, MI spans 46.5 square miles in Calhoun County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Springfield, MI asks $109/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 Springfield, MI asks $97/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 Springfield, 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 Springfield, 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 53.5%
- Industrial 35.9%
- Commercial 7.7%
- Mixed use 2.8%
Largest Zones share of zoned land by district
Industrial And Research And Technology
One Family Residential
One Family Residential
Multiple Family Residential
General Commercial
Springfield, MI zones 1,936 acres across 10 districts. Commercial zoning covers 7.7% of zoned land, residential 53.5% and industrial 35.9%. The largest single district is Industrial And Research And Technology at 35.9%. For commercial buyers the practical constraint is that only 43.6% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Springfield, MI has 49,435 residents in 22,493 households. Density runs 1,063 people per square mile. Median household income here is $56,831 and median gross rent $921 a month.
49,435
Population
22,493
Households
2.2
Avg Household Size
39
Median Age
21%
College-Educated
89%
High-School Grad
46.5 sq mi
ZIP Area
1,063
Density / Sq Mi
$56,831
Median Household Income
$36,486
Median Earnings
$921
Median Rent
$136,152
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Battle Creek | — | $12.79 |
| Bedford | — | — |
| Augusta | — | — |
| Climax | — | — |
Commercial property in Springfield, MI asks $47/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Springfield?
Commercial property in Springfield, MI asks an average of $47 per square foot. The 4 most recent recorded sales traded at a median of $6/SF, so asking sits 733% above the achieved median. Office carries the highest asking price at $109/SF.
How much does it cost to lease commercial space in Springfield?
Asking lease rates in Springfield, MI average $9.72 per square foot per year.
What zoning applies to commercial property in Springfield?
Springfield, MI zones 1,936 acres across 10 districts, of which 7.7% is commercial and 35.9% industrial. The largest single district is Industrial And Research And Technology at 35.9% of zoned land. Residential zoning covers 53.5% and open space 0%.
Where does Realmo's Springfield market data come from?
Realmo compiles Springfield, MI figures from 4 recent recorded sales, 22 active sale listings, 14 active lease listings, 506 tracked off-market properties, the current Springfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 22 active for-sale and 14 active for-lease listings in Springfield, 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: 1,936 zoned acres across 10 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 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
