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Market Overview
In Detroit, Retail Space for sale is averaging a cap rate of 8.86%, and the city's historic cap rate has run well above the Michigan state average, sitting at about 9.58% in Q2 2026 compared to about 7.71% statewide, a gap of roughly 187 basis points.
- Active retail listings in Detroit fell from 130 in Q1 2026 to 100 in Q2 2026, a decline of about 23%, while 104 listings are currently available.
- The average price per square foot in Detroit held relatively flat, moving from $146 in Q1 2026 to $137 in Q2 2026, and the Michigan state average followed a similar flat path from $219 to $213 over the same period, leaving Detroit consistently below the statewide figure. The current average asking price is $139 per square foot.
- The average building size in Detroit fell from about 13,577 square feet in Q1 2026 to about 9,784 square feet in Q2 2026, with listings currently averaging 9,768 SF and the largest available property reaching 73,400 SF.
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