Commercial Real Estate Market in Troy, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
252 active listings and 2,337 off-market properties in Troy, MI. Commercial property asks $159/SF to buy and $17.95/SF/Yr to lease.
Market Trends
Troy, MI spans 33.5 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Troy, MI asks $18.45/SF/Yr to lease; the median asking sale price is $157/SF. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Troy, MI has a median asking sale price of $326/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Troy, MI has a median asking sale price of $115/SF. Vacancy 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 Troy, 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 69.8%
- Industrial 9.4%
- Civic 4%
- Commercial 3%
- Planned_development 3%
- Open space 1.7%
- Mixed use 0.8%
Largest Zones share of zoned land by district
Troy, MI zones 17,838 acres across 53 districts. Commercial zoning covers 3% of zoned land, residential 69.8%, open space 1.7% and industrial 9.4%. The largest single district is One Family Residential at 27.1%. For commercial buyers the practical constraint is that only 12.5% of land carries a commercial or industrial designation.
The intent of the Districts is to provide areas for single-family dwellings with the primary distinction being a range of densities, implemented through varying lot sizes
Market overview
Demographics & Economy
Troy, MI has 87,294 residents in 34,997 households. Density runs 2,606 people per square mile. Median household income here is $126,707 and median gross rent $1,734 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Clawson | $167 | $10.99 |
| Sterling Heights | $177 | $16.95 |
| Berkley | $120 | $16.00 |
| Royal Oak | $247 | $25.00 |
Commercial property in Troy, MI asks $159/SF. The 4 bordering markets run from $120/SF in Berkley to $247/SF in Royal Oak, and the city sits below their $172/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Troy?
How much does it cost to lease commercial space in Troy?
How does Troy compare to nearby markets on price?
What zoning applies to commercial property in Troy?
Where does Realmo's Troy market data come from?
Methodology & data sources
- Asking prices and medians
- There are 70 active for-sale and 182 active for-lease listings in Troy, MI. The medians are based on 22 of the for-sale and 84 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.
- Zoning and land use
- The current municipal zoning release: 17,838 zoned acres across 53 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
