Commercial Real Estate Market in Essex, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
51 active listings and 185 off-market properties in Essex, CT. Commercial property asks $288/SF to buy and $13.27/SF/Yr to lease.
Market Trends
Essex, CT spans 5.6 square miles in Middlesex County, Connecticut. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Essex, CT asks $131/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Essex, CT runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Essex, CT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Essex, CT runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 86%
- Industrial 5.9%
- Commercial 4.7%
- Open space 2.8%
Largest Zones share of zoned land by district
Rural Residential
Village Residence District
Rural Residence Multifamily
Limited Industrial
River Road Residential
Essex, CT zones 6,707 acres across 16 districts. Commercial zoning covers 4.7% of zoned land, residential 86%, open space 2.8% and industrial 5.9%. The largest single district is Rural Residential at 58%. For commercial buyers the practical constraint is that only 10.5% of land carries a commercial or industrial designation.
Rural Residential (RU)
Rural Residence District (RU) Rural Residence - Multi-Family District (RUM) Residential Life Care District (RLC) River Road Residential (RRR) Business Districts: including Essex Village District (EV) Waterfront Business District (WF) Commercial District (C) Limited Industrial District (LI) Municipal and Industrial Service Zone (MI) Heritage Gateway District…
Market overview
Demographics & Economy
Essex, CT has 3,453 residents in 1,739 households. Density runs 613 people per square mile. Median household income here is $104,028 and median gross rent $1,860 a month.
3,453
Population
1,739
Households
2
Avg Household Size
61
Median Age
66%
College-Educated
98%
High-School Grad
5.6 sq mi
ZIP Area
613
Density / Sq Mi
$104,028
Median Household Income
$65,170
Median Earnings
$1,860
Median Rent
$719,500
Median Home Value
Tools
Lease vs Buy Breakeven
At $13.27/SF/Yr lease vs $288/SF buy → buying wins if held > 13.5 years.
At a 4.6% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Centerbrook | — | — |
| Ivoryton | — | — |
| Deep River | — | $12.39 |
| Lyme | — | — |
Commercial property in Essex, CT asks $288/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Essex?
Commercial property in Essex, CT asks an average of $288 per square foot. The 4 most recent recorded sales traded at a median of $430/SF. Office carries the highest asking price at $131/SF.
How much does it cost to lease commercial space in Essex?
Asking lease rates in Essex, CT average $13.27 per square foot per year.
Is it cheaper to lease or buy commercial space in Essex?
Buying beats leasing in Essex, CT if the property is held longer than 13.5 years, comparing $13.27/SF/Yr asking rent with $288/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Essex?
Essex, CT zones 6,707 acres across 16 districts, of which 4.7% is commercial and 5.9% industrial. The largest single district is Rural Residential at 58% of zoned land. Rural Residence District (RU) Rural Residence - Multi-Family District (RUM) Residential Life Care District (RLC) River Road Residential (RRR) Business Districts: including Essex Village District (EV) Waterfront Business District (WF) Commercial District (C) Limited Industrial District (LI) Municipal and Industrial Service Zone (MI) Heritage Gateway District… Residential zoning covers 86% and open space 2.8%.
Where does Realmo's Essex market data come from?
Realmo compiles Essex, CT figures from 5 recent recorded sales, 27 active sale listings, 24 active lease listings, 185 tracked off-market properties, the current Essex zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 27 active for-sale and 24 active for-lease listings in Essex, CT. 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: 6,707 zoned acres across 16 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 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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 August 2026 · report a data issue
