Commercial Real Estate Market in Watersmeet, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 157 off-market properties in Watersmeet, MI.
Market Trends
Watersmeet, MI spans 255.0 square miles in Gogebic County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Watersmeet, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail space in Watersmeet, MI asks $65/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 Watersmeet, 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 Watersmeet, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Watersmeet, MI has 1,445 residents in 1,494 households. Density runs 6 people per square mile. Median household income here is $61,101 and median gross rent $481 a month.
1,445
Population
1,494
Households
1
Avg Household Size
57
Median Age
24%
College-Educated
97%
High-School Grad
255 sq mi
ZIP Area
6
Density / Sq Mi
$61,101
Median Household Income
$35,577
Median Earnings
$481
Median Rent
$245,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Land O Lakes | — | — |
| Phelps | — | — |
| Bruce Crossing | — | — |
| Conover | — | — |
Commercial property in Watersmeet, MI asks $28/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Watersmeet?
Commercial property in Watersmeet, MI asks an average of $28 per square foot. Retail carries the highest asking price at $65/SF.
Where does Realmo's Watersmeet market data come from?
Realmo compiles Watersmeet, MI figures from 3 recent recorded sales, 29 active sale listings, 157 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 29 active for-sale and 0 active for-lease listings in Watersmeet, 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.
- 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
