Commercial real estate in Michigan
Search commercial real estate records in Michigan to find the property data you need. Reonomy provides the most comprehensive commercial real estate information available through the aggregation of commercial property records and data. Search through Michigan commercial property sales records, owner records and tax records. Signup for a free trial to uncover more information and search by filters including sales history, debt and owner.
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Popular searches around Michigan
Reonomy operates the most comprehensive database for Michigan Commercial Real Estate and other commercial real estate assets across the U.S. Reonomy includes over 47 million commercial real estate properties, each property features sales, debt, tax and ownership data. Reonomy attracts a large community of Michigan commercial real estate professionals. Members from Michigan include brokers, investors and service providers, many of whom specialize in Michigan Commercial Real Estate.
Michigan commercial real estate sold prices and values
The average assessed value of commercial real estate properties in Michigan is $141,111. Commercial real estate sale prices in Michigan have a median of $91,208. The last 24 months of sales history has seen 67,481 sales, with 17,196 sales greater than $250,000, 1,991 sales valued at over $1,000,000, and 69 sales valued at over $10,000,000. The average price per square foot of commercial real estate properties in Michigan over the last 24 months is $50.
|Values and sold prices (last 24 months)||United States||Michigan|
|Average sold price||$1,110,594||$241,627|
|Median sold price||$195,861||$91,208|
|Number of sales||4,002,357||67,481|
|Number of sales over $250k||1,691,978||17,196|
|Number of sales over $1m||393,180||1,991|
|Number of sales over $10m||56,413||69|
|Average total tax amount||$9,248||$5,789|
|Average assessed value||$313,529||$141,111|
|Average market value||$400,838||$282,694|
Michigan commercial real estate property averages
The average lot size of commercial real estate properties in Michigan is 26,935 sf. This is 9% above the United States average.
|Property averages||United States||Michigan|
|Average lot size||816,488 sf||987,099 sf|
|Median lot size||24,470 sf||26,935 sf|
|Average building area||1,109 sf||129 sf|
|Median building area||76 sf||28 sf|
|Median year built||1970||1959|
|Average number of units||16||14|
|Median number of units||2||2|
Michigan commercial real estate total supply
There are 1,470,399 commercial real estate properties in Michigan. This is 190% below the United States average. The total acerage is 35,773,340 acres and the aggregate building area for commercial real estate properties in Michigan is 12,139,775 sf.
|Number of parcels||58,091,739||1,470,399|
|Aggregate lot acerage||977,366,964||35,773,340|
|Aggregate building area||8,120,632,838 sf||12,139,775 sf|
Michigan commercial real estate industrial mortgages
There are 463,971 mortgages for commercial real estate properties across Michigan in the Reonomy database. The average value of those mortgages is $22,498,481. This is 124% above the United States average.
|Number of mortgages||41,237,574||463,971|
|Average value of mortgages||$5,196,211||$22,498,481|