Commercial Real Estate Market in Franklin, WI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
56 active listings and 612 off-market properties in Franklin, WI. Commercial property asks $23/SF to buy and $9.99/SF/Yr to lease.
Market Trends
Franklin, WI spans 34.7 square miles in Milwaukee County, Wisconsin. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Franklin, WI asks $41/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 Franklin, WI asks $107/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 Franklin, WI 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 Franklin, WI asks $91/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 48.7%
- Open space 19.9%
- Planned_development 12.4%
- Civic 5.6%
- Commercial 4.7%
- Agricultural 3.6%
- Industrial 3.1%
- Mixed use 2%
Largest Zones share of zoned land by district
Suburban Estate Residence
Parks And Open Space
Suburban Residence
Planned Development Legacy
Institutional
Franklin, WI zones 22,168 acres across 18 districts. Commercial zoning covers 4.7% of zoned land, residential 48.7%, open space 19.9% and industrial 3.1%. The largest single district is Suburban Estate Residence at 20%. For commercial buyers the practical constraint is that only 7.8% of land carries a commercial or industrial designation.
Suburban Estate Residence (R-SE)
R-SE - Suburban/Estate Residence District. The R-SE Suburban/Estate Residence District is intended to provide land for single-family residential housing in moderately low densities and that is suburban or semi-rural in character. The District is further intended to preserve and protect the City's natural resources, including woodlands and open spaces. 3.
Market overview
Demographics & Economy
Franklin, WI has 36,166 residents in 14,073 households. Density runs 1,042 people per square mile. Median household income here is $110,656 and median gross rent $1,380 a month.
36,166
Population
14,073
Households
2.6
Avg Household Size
44
Median Age
46%
College-Educated
95%
High-School Grad
34.7 sq mi
ZIP Area
1,042
Density / Sq Mi
$110,656
Median Household Income
$64,194
Median Earnings
$1,380
Median Rent
$345,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hales Corners | — | — |
| Seneca Corners | — | — |
| Greendale | — | — |
| Muskego | — | — |
Commercial property in Franklin, WI asks $23/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Franklin?
Commercial property in Franklin, WI asks an average of $23 per square foot. Retail carries the highest asking price at $107/SF.
How much does it cost to lease commercial space in Franklin?
Asking lease rates in Franklin, WI average $9.99 per square foot per year.
What zoning applies to commercial property in Franklin?
Franklin, WI zones 22,168 acres across 18 districts, of which 4.7% is commercial and 3.1% industrial. The largest single district is Suburban Estate Residence at 20% of zoned land. R-SE - Suburban/Estate Residence District. The R-SE Suburban/Estate Residence District is intended to provide land for single-family residential housing in moderately low densities and that is suburban or semi-rural in character. The District is further intended to preserve and protect the City's natural resources, including woodlands and open spaces. 3. Residential zoning covers 48.7% and open space 19.9%.
Where does Realmo's Franklin market data come from?
Realmo compiles Franklin, WI figures from 5 recent recorded sales, 42 active sale listings, 14 active lease listings, 612 tracked off-market properties, the current Franklin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 42 active for-sale and 14 active for-lease listings in Franklin, WI. 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: 22,168 zoned acres across 18 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
