Commercial Real Estate Market in Novato, CA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
71 active listings and 845 off-market properties in Novato, CA. Commercial property asks $732/SF to buy and $16.20/SF/Yr to lease.
Market Trends
Novato, CA spans 58.7 square miles in Marin County, California. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Novato, CA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Novato, CA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Novato, CA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Novato, CA asks $667/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Planned_development 49.1%
- Open space 27.5%
- Residential 16.1%
- Civic 5.2%
- Commercial 1%
- Agricultural 0.5%
- Industrial 0.3%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Planned District
Open Space
Restricted Open Space
Low Density Residential
Community Facilities
Planned District (PD)
The purpose of this district is to create well-planned communities or protect sensitive sites by allowing flexible development standards.
Market overview
Demographics & Economy
Novato, CA has 60,334 residents in 24,322 households. Density runs 1,029 people per square mile. Median household income here is $118,584 and median gross rent $2,440 a month.
60,334
Population
24,322
Households
2.5
Avg Household Size
46
Median Age
49%
College-Educated
91%
High-School Grad
58.7 sq mi
ZIP Area
1,029
Density / Sq Mi
$118,584
Median Household Income
$62,602
Median Earnings
$2,440
Median Rent
$1,047,917
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Fairfax | — | — |
| San Rafael | — | $32.24 |
Commercial property in Novato, CA asks $732/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Novato?
Commercial property in Novato, CA asks an average of $732 per square foot. The 6 most recent recorded sales traded at a median of $271/SF, so asking sits 170% above the achieved median. Multifamily carries the highest asking price at $667/SF.
How much does it cost to lease commercial space in Novato?
Asking lease rates in Novato, CA average $16.20 per square foot per year.
Where does Realmo's Novato market data come from?
Realmo compiles Novato, CA figures from 6 recent recorded sales, 34 active sale listings, 37 active lease listings, 845 tracked off-market properties, the current Novato zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 34 active for-sale and 37 active for-lease listings in Novato, CA. 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: 16,123 zoned acres across 34 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 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level, industrial vacancy is reported at West region level and asking prices run materially above recent closed pricing.
- 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 30 September 2026 · report a data issue
