Commercial Real Estate Market in Merrill, WI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
22 active listings and 234 off-market properties in Merrill, WI. Commercial property asks $125/SF to buy (based on 4 listings) and $16.00/SF/Yr to lease (based on 3 listings).
Market Trends
Merrill, WI spans 438.0 square miles in Lincoln County, Wisconsin. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Merrill, WI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Merrill, WI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Merrill, 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%.
Multifamily
Multifamily vacancy in Merrill, WI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 44.1%
- Open space 25.4%
- Industrial 17%
- Commercial 9.3%
- Planned_development 2.3%
Largest Zones share of zoned land by district
Merrill, WI zones 4,114 acres across 13 districts. Commercial zoning covers 9.3% of zoned land, residential 44.1%, open space 25.4% and industrial 17%. The largest single district is Park Recreation And Public at 25.4%. For commercial buyers the practical constraint is that only 26.3% of land carries a commercial or industrial designation.
The purpose of this district is to provide a location for all buildings and areas public in nature and owned by the public, municipalities, or nonprofit organizations representing a segment of the public.
Market overview
Demographics & Economy
Merrill, WI has 18,851 residents in 9,181 households. Density runs 43 people per square mile. Median household income here is $65,522 and median gross rent $777 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Merrill?
How much does it cost to lease commercial space in Merrill?
What zoning applies to commercial property in Merrill?
Where does Realmo's Merrill market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 4 active for-lease listings in Merrill, WI. The medians are based on 4 of the for-sale and 3 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 4,114 zoned acres across 13 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
