Discover Top Commercial Real Estate in Empire, MI for 2025

Empire, MI Commercial Real Estate for Sale and Lease

Tucked along the picturesque shores of Lake Michigan, Empire, Michigan is a charming lakeside village that blends natural beauty with small-town warmth. Known as the gateway to the Sleeping Bear Dunes National Lakeshore, Empire offers breathtaking views, sandy beaches, and a welcoming atmosphere that attracts both tourists and year-round residents. Its walkable downtown features quaint shops, locally owned cafés, and essential services, making it a vibrant hub despite its modest size. The village’s peaceful pace and scenic surroundings create an ideal backdrop for both lifestyle businesses and commercial ventures seeking steady seasonal traffic.

Empire’s close-knit community is defined by its appreciation for nature, outdoor recreation, and local heritage. With an increasing number of visitors drawn to the area each year, the town is experiencing thoughtful growth, including revitalized infrastructure and interest in mixed-use development.

Real Estate Statistics

Average Price	$1M
Lowest Price	$130K
Highest Price	$2.6M
Total Listings	3
Avg. Days On Market	23
Avg. Price/SQFT	$340

Property Types (active listings)

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$2,595,000

7345 W Glenmere Road, Empire

0 Beds 3 Baths 3,189 SqFt Commercial MLS® # 1936354

New

$399,900

12100 S Plowman Road, Empire

0 Beds 1 Bath 3,200 SqFt Commercial MLS® # 1939371

$130,000

3636 W Empire Highway, Empire

0 Beds 1 Bath 1,600 SqFt Commercial MLS® # 1937585

Empire, MI Commercial Real Estate for Sale and Lease: Unlock Opportunities in 2025

Introduction to Empire, MI

Nestled along the shores of Lake Michigan and bordering the majestic Sleeping Bear Dunes National Lakeshore, Empire, MI is a charming village with enormous potential for commercial real estate investment. Whether you're a seasoned investor or a first-time buyer looking for a unique location with strong returns, Empire offers a rare blend of natural beauty, community charm, and business opportunity. Its small-town appeal draws consistent tourist traffic, and recent development interest is putting this gem on the investment map.

Geographic Overview

Empire is located in Leelanau County, just a 30-minute scenic drive from Traverse City. With easy access to M-22 and breathtaking vistas of Lake Michigan, the area enjoys significant pass-through tourism. Businesses here benefit from both local foot traffic and seasonal surges brought on by nature lovers, beachgoers, and outdoor enthusiasts.

Economic Profile of Empire

Empire’s economy is strongly influenced by seasonal tourism, which supports a range of commercial businesses from retail to restaurants to short-term rentals. Recent economic development initiatives have started focusing on revitalizing main streets and attracting service-oriented ventures like wellness centers, cafés, and outdoor gear outfitters. The town is becoming a year-round destination, creating ripe conditions for commercial leasing and sales.

Demographic Insights

Empire is a close-knit community with a population of just under 400, but don’t let the small number fool you—this area sees tens of thousands of visitors each year. Its demographics include retirees, remote workers, hospitality employees, and seasonal business operators. This unique makeup creates flexible demand across property types, from office suites to event spaces and boutique shops.

Why Invest in Commercial Real Estate in Empire, MI

Low Competition, High Demand

Unlike saturated metropolitan markets, Empire offers limited commercial supply, which can translate to faster appreciation and lower vacancy rates. As the local government opens more zoning avenues for commercial use, early investors stand to benefit greatly from first-mover advantages.

Strong Tourism and Seasonal Economy

Tourism isn't just a seasonal bump here—it’s the economic engine. Local festivals, hiking trails, lake access, and its proximity to Sleeping Bear Dunes make Empire a must-stop spot for travelers. Businesses that cater to this influx can generate significant revenue within a few short months.

Stable Rental Income Potential

Because of the consistent summer demand, leased commercial spaces in Empire—especially those on the M-22 corridor or downtown—tend to command stable rental rates. Long-term leases are common with boutique stores, while short-term leases cater to pop-ups and seasonal businesses.

Types of Commercial Properties Available

Office Spaces

While limited, office spaces in Empire are typically leased by local professionals such as architects, landscape designers, and tourism-related services. Many properties are converted residential units offering unique, homey working environments.

Retail Buildings

The most in-demand commercial properties are small retail storefronts along Front Street and M-22. These locations are ideal for artisan shops, wine tasting rooms, and general stores.

Industrial and Warehousing Units

Though rare, some investors are exploring light industrial opportunities, including small-scale manufacturing, woodworking shops, and storage units, especially on the outskirts of the village where zoning permits such uses.

Hospitality and Lodging Properties

Empire’s status as a tourist hub makes it an ideal location for bed-and-breakfasts, boutique inns, and short-term rental-friendly lodges. Many existing homes are being converted into commercial lodging operations.

Mixed-Use Developments

Several parcels in Empire are zoned for mixed-use, making them prime candidates for developments that combine retail with residential or office space. These projects offer excellent ROI potential through multi-revenue streams.

Prime Commercial Locations in Empire, MI

Downtown Empire

The heart of the village, Front Street and Lake Street, is where most walk-in traffic occurs. Restaurants, coffee shops, and art galleries flourish here, and commercial property values are steadily rising.

M-22 Corridor and High-Traffic Zones

Running along Lake Michigan, M-22 is one of the most scenic byways in the country. Businesses on or near this highway benefit from nonstop visibility and seasonal traffic. Think of souvenir shops, kayak rental hubs, and cafés with parking.

Lakeshore and Tourist-Centric Areas

Properties near the beach or trailheads offer unique commercial possibilities—pop-up markets, bike rentals, or lakefront event venues. With zoning shifts and community support, these underutilized areas are poised for transformation.

Market Trends and Forecast for 2025

Pricing Patterns and Appreciation Rates

Commercial real estate in Empire has appreciated steadily over the past five years. While inventory remains low, prices per square foot are expected to rise as more investors discover this hidden gem.

Leasing vs. Buying Trends

Buyers are focusing on long-term plays, while short-term business owners prefer flexible leasing arrangements. Expect hybrid arrangements to emerge—such as lease-to-own models or seasonal subletting agreements.

Investment Risk Factors

Like any seasonal town, off-season traffic can be slow, impacting cash flow for certain businesses. However, risk can be mitigated by selecting properties with multi-purpose potential or partnering with local tourism networks to increase visibility.

Zoning Regulations and Permitting Process

Zoning Districts Explained

Empire’s zoning code includes categories for Commercial (C), Residential (R), Mixed-Use (MU), and Public Use (P). Knowing where your desired property falls will determine allowable business activities and development possibilities.

Application and Review Timelines

Permitting is handled by the Village of Empire Planning Commission, and while the process is relatively streamlined, expect a review period of 30–90 days depending on project scope.

Environmental Considerations

Because of Empire’s proximity to protected land, developers must be mindful of wetland restrictions, shoreline preservation rules, and noise ordinances. Consulting with a local zoning expert early can save time and money.

Financing Commercial Properties in Empire

Local Lenders and Credit Unions

One of the most overlooked advantages of investing in Empire, MI commercial real estate is the access to local lenders and credit unions that understand the seasonal rhythm of the area. Institutions like Honor Credit Union and community-focused banks in Leelanau County often offer tailored commercial loans with flexible terms. These local lenders are more likely to work with investors who may not fit the rigid criteria of national banks, especially when dealing with mixed-use or seasonal-use properties.

SBA and USDA Rural Loans

Empire qualifies for several government-backed loan programs, including SBA 504 loans and USDA Rural Development loans. These financing solutions are especially valuable for small business owners who want to purchase or upgrade commercial properties. These loans typically feature low down payments, extended repayment terms, and favorable interest rates—making them an excellent choice for entrepreneurs aiming to establish themselves in this high-potential market.

Private Capital and REITs

Private investors and real estate investment trusts (REITs) are slowly turning their attention to hidden markets like Empire. If you’re unable to secure traditional financing or want to scale faster, private capital may offer a path forward. Empire’s low inventory and increasing popularity make it attractive for those seeking to develop retail centers, vacation lodges, or hospitality-driven venues.

Leasing a Commercial Property in Empire

Average Lease Terms and Rates

Leasing rates in Empire are competitive when compared to Traverse City, yet still affordable enough to attract small business owners and startups. Monthly lease rates for downtown retail space typically range from $14 to $20 per square foot, depending on visibility, condition, and location. Seasonal leasing options are increasingly popular for retail shops, outdoor gear outfitters, and food trucks.

Triple Net (NNN) vs. Gross Lease

Understanding the lease structure is critical. Empire property owners often offer Gross Leases, where utilities and maintenance are baked into a single rent payment—ideal for seasonal operators. In contrast, Triple Net Leases (NNN), where tenants pay taxes, insurance, and maintenance, may be more common in larger commercial spaces or mixed-use developments.

Tips for Negotiating Lease Agreements

• Clarify Seasonal Use Provisions: If your business will operate mainly during tourist season, ensure the lease allows for shorter annual terms.

• Request Build-Out Credits: Some landlords offer allowances for tenant improvements, which can help offset startup costs.

• Understand Termination Clauses: Include exit options in case foot traffic doesn’t meet expectations or your business evolves.

Key Considerations Before Buying Commercial Real Estate

ROI and Cash Flow Analysis

Before jumping in, conduct a thorough return on investment (ROI) analysis. Calculate gross and net income projections, expected occupancy rates, and potential off-season revenue dips. In Empire, ROI is typically strong for tourism-centered businesses that leverage peak summer months.

Property Inspection and Due Diligence

Always bring in a licensed commercial inspector familiar with older properties and mixed-use zoning. Some buildings may have been converted from residential use and might not comply with commercial codes. Review historical zoning records, utility setups, and ADA compliance to avoid costly surprises.

Exit Strategy and Resale Planning

Even when planning long-term, smart investors plan for an exit. Keep in mind how attractive the property will be in 5–10 years. Empire’s growth potential, combined with the scarcity of inventory, suggests rising demand—making a well-maintained commercial building a valuable resale asset.

Real Estate Development Opportunities

New Construction Projects

Vacant lots in Empire are limited but available—especially on the village outskirts or along the M-22 corridor. Developers are exploring small strip centers, medical offices, and boutique hotel projects. The village supports sustainable growth, particularly when plans are in harmony with local character and environmental guidelines.

Renovation and Value-Add Investments

Many investors are finding success in the value-add market, purchasing underused or dated buildings and turning them into trendy retail spaces, creative studios, or lodging options. This approach tends to be less capital-intensive and faster to market than new builds.

Land for Commercial Development

Land parcels zoned for commercial use often provide the highest ROI opportunities when tied to tourism. Examples include land near trailheads or close to the beach—perfect for parking services, snack stands, or outdoor gear rentals.

Working With a Local Expert

Why Choose Brook Walsh as Your Broker

With deep roots in Northern Michigan and unparalleled market insight, Brook Walsh is your go-to expert for buying, selling, or leasing Empire, MI commercial real estate. Brook offers personalized service, helping clients identify properties that fit their financial goals and long-term vision.

Local Market Knowledge and Connections

Brook understands the seasonal nuances of Empire's real estate market, including the best times to buy, ideal rental rates, and how zoning impacts ROI. He also has strong connections with local contractors, inspectors, and lenders to help your deal move smoothly.

Full-Service Representation and Negotiation

From property tours to contract negotiation and post-closing follow-up, Brook provides comprehensive support. Clients benefit from strategic marketing insights, professional representation, and a network of trusted partners to bring commercial real estate visions to life.

Success Stories from Investors in Empire, MI

Case Study: Retail Revitalization

An investor purchased a rundown storefront on Front Street and converted it into a thriving farm-to-table café. With minimal buildout and strategic marketing, the café became profitable within six months, drawing both locals and tourists.

Case Study: Vacation Property Conversions

Another success involved converting a vacant duplex into a commercial short-term rental with a small event space. With Empire's strong visitor demand, this property quickly booked out for weddings, reunions, and retreats.

Case Study: Mixed-Use Project Development

A visionary developer transformed a corner lot into a three-story mixed-use building, with ground-floor retail and upper-level residential units. Leasing was completed before construction finished, and the investor enjoys multiple income streams year-round.

Frequently Asked Questions

1. Is Empire, MI a good place to invest in commercial real estate?

Yes, Empire offers low inventory, high seasonal demand, and growing tourist traffic. These factors create strong potential for rental income and property appreciation.

2. What types of commercial properties are most common in Empire?

You'll find a mix of retail storefronts, office spaces, lodging options, and mixed-use buildings. Many investors also explore converting residential buildings into commercial use.

3. How long does it take to close on a commercial property in Empire?

It varies, but on average, 30–60 days. Delays can occur due to zoning reviews or lender underwriting. Working with a local expert helps keep the process on track.

4. Can I lease a property seasonally in Empire?

Yes. Seasonal leases are common, especially for tourist-focused businesses. Flexible terms are available with many landlords for summer-only or short-term operations.

5. What’s the average price per square foot for commercial properties?

Prices vary by location and property type, but generally range from $130–$200 per square foot for prime areas like downtown Empire.

6. Are there development incentives in Empire?

Yes, the Village of Empire occasionally offers support for eco-friendly, community-enhancing projects. You may also be eligible for county or state-level grants if your business benefits the local economy.

Conclusion and Next Steps

Empire, MI is not just a postcard-perfect town—it’s a real opportunity for commercial real estate investors. Whether you’re leasing a storefront, developing a boutique lodge, or flipping a mixed-use building, the rewards are tangible in this lakeside village. With the market heating up and zoning becoming more investor-friendly, there’s no better time to explore your options.

How to Get Started with BrookWalsh.com

If you're ready to dive into commercial opportunities in Empire, your next step is to reach out to Brook Walsh. With unmatched local insight and a proven track record in Northern Michigan real estate, Brook will help guide you to properties that align with your vision and financial goals.

Contact Information and Consultation Offer

Visit BrookWalsh.com to browse current listings or schedule a free consultation. From market evaluations to negotiation strategies, Brook and his team are here to help you succeed.

External Link
For current zoning regulations, visit: Village of Empire Zoning Ordinance

Continue your Northern Michigan commercial real estate search in the communities below or contact Brook Walsh to help you with your search.