Commercial Real Estate Market in Wolverine, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
43 active listings and 115 off-market properties in Wolverine, MI.
Market Trends
Wolverine, MI spans 118.4 square miles in Cheboygan County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Wolverine, 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 Wolverine, MI asks $171/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 Wolverine, 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 Wolverine, 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 95.2%
- Commercial 3.3%
- Industrial 1.5%
Largest Zones share of zoned land by district
Residential
Varied Residential
Mixed Residential
Commercial
Industrial
Wolverine, MI zones 633 acres across 5 districts. Commercial zoning covers 3.3% of zoned land, residential 95.2% and industrial 1.5%. The largest single district is Residential at 83.5%. For commercial buyers the practical constraint is that only 4.8% of land carries a commercial or industrial designation.
Residential (R-1)
This district classification is designed to be the most restrictive to encourage an environment of predominantly low-density single family dwellings, together with a minimum of other residentially related facilities and activities primarily of service to the residents of the area.
Market overview
Demographics & Economy
Wolverine, MI has 2,514 residents in 1,484 households. Density runs 21 people per square mile. Median household income here is $51,029 and median gross rent $682 a month.
2,514
Population
1,484
Households
1.7
Avg Household Size
49
Median Age
15%
College-Educated
93%
High-School Grad
118.4 sq mi
ZIP Area
21
Density / Sq Mi
$51,029
Median Household Income
$31,023
Median Earnings
$682
Median Rent
$164,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Afton | — | — |
| Vanderbilt | — | — |
| Indian River | — | — |
| Boyne Falls | — | — |
Commercial property in Wolverine, MI asks $906/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wolverine?
Commercial property in Wolverine, MI asks an average of $906 per square foot. Retail carries the highest asking price at $171/SF.
What zoning applies to commercial property in Wolverine?
Wolverine, MI zones 633 acres across 5 districts, of which 3.3% is commercial and 1.5% industrial. The largest single district is Residential at 83.5% of zoned land. This district classification is designed to be the most restrictive to encourage an environment of predominantly low-density single family dwellings, together with a minimum of other residentially related facilities and activities primarily of service to the residents of the area. Residential zoning covers 95.2% and open space 0%.
Where does Realmo's Wolverine market data come from?
Realmo compiles Wolverine, MI figures from 43 active sale listings, 115 tracked off-market properties, the current Wolverine zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 43 active for-sale and 0 active for-lease listings in Wolverine, 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: 633 zoned acres across 5 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
