Commercial Real Estate Market in Troy, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
273 active listings and 2,337 off-market properties in Troy, MI. Commercial property asks $123/SF to buy and $17.22/SF/Yr to lease.
Market Trends
Troy, MI spans 33.5 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Troy, MI asks $120/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 Troy, MI asks $175/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 Troy, 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 Troy, MI asks $159/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
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
One Family Residential
One Family Residential
Integrated Industrial And Business District
One Family Residential
One Family Residential
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.
One Family Residential (R-1B)
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.
87,294
Population
34,997
Households
2.5
Avg Household Size
42
Median Age
64%
College-Educated
96%
High-School Grad
33.5 sq mi
ZIP Area
2,606
Density / Sq Mi
$126,707
Median Household Income
$67,342
Median Earnings
$1,734
Median Rent
$392,780
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Clawson | — | — |
| Bham | — | — |
| Birmingham | — | $76.70 |
| Sterling Heights | — | $24.76 |
Commercial property in Troy, MI asks $123/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Troy?
Commercial property in Troy, MI asks an average of $123 per square foot. Retail carries the highest asking price at $175/SF.
How much does it cost to lease commercial space in Troy?
Asking lease rates in Troy, MI average $17.22 per square foot per year.
What zoning applies to commercial property in Troy?
Troy, MI zones 17,838 acres across 53 districts, of which 3% is commercial and 9.4% industrial. The largest single district is One Family Residential at 27.1% of zoned land. 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 Residential zoning covers 69.8% and open space 1.7%.
Where does Realmo's Troy market data come from?
Realmo compiles Troy, MI figures from 3 recent recorded sales, 85 active sale listings, 188 active lease listings, 2,337 tracked off-market properties, the current Troy zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 85 active for-sale and 188 active for-lease listings in Troy, 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: 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 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 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 August 2026 · report a data issue
