Commercial Real Estate Market in Westwood, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
723 active listings and 5,882 off-market properties in Westwood, MI. Commercial property asks $87/SF to buy and $19.95/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Westwood, MI asks $15.59/SF/Yr to lease and $105/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Westwood, MI asks $17.70/SF/Yr to lease and $137/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Westwood, 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 Westwood, MI asks $109/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
Frequently Asked Questions
What is the average price per square foot for commercial property in Westwood?
Commercial property in Westwood, MI asks an average of $87 per square foot. Retail carries the highest asking price at $137/SF.
How much does it cost to lease commercial space in Westwood?
Asking lease rates in Westwood, MI average $19.95 per square foot per year. Office asks $15.59/SF/Yr as of Q2 26, down from $18.65/SF/Yr in Q1 26.
Where does Realmo's Westwood market data come from?
Realmo compiles Westwood, MI figures from 3 recent recorded sales, 456 active sale listings, 267 active lease listings, 5,882 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 456 active for-sale and 267 active for-lease listings in Westwood, 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 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 · How Realmo checks market page data · Report a data issue
