Commercial Real Estate Market in Lebanon, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
14 active listings and 52 off-market properties in Lebanon, CT.
Market Trends
Lebanon, CT spans 54.1 square miles in New London County, Connecticut. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lebanon, CT runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Lebanon, CT asks $305/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Lebanon, 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 space in Lebanon, CT asks $229/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 76.2%
- Agricultural 20.7%
- Industrial 1.6%
- Commercial 1.5%
Largest Zones share of zoned land by district
Rural Agriculture Residence
Agriculture
Lake
Light Industry
Business
Lebanon, CT zones 34,881 acres across 8 districts. Commercial zoning covers 1.5% of zoned land, residential 76.2% and industrial 1.6%. The largest single district is Rural Agriculture Residence at 69.8%. For commercial buyers the practical constraint is that only 3.1% of land carries a commercial or industrial designation.
Rural Agriculture Residence (RA)
The purpose of the Rural Agricultural (RA) Residence District is to allow for residential development surrounded by open space while at the same time preserving those areas which are capable of supporting agricultural pursuits. It is intended that non-residential non-agricultural uses in the RA Zone be limited to those which are primarily necessary or desira…
Market overview
Demographics & Economy
Lebanon, CT has 7,142 residents in 3,210 households. Density runs 132 people per square mile. Median household income here is $106,594 and median gross rent $1,449 a month.
7,142
Population
3,210
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
95%
High-School Grad
54.1 sq mi
ZIP Area
132
Density / Sq Mi
$106,594
Median Household Income
$62,219
Median Earnings
$1,449
Median Rent
$337,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| North Franklin | — | — |
| North Windham | — | $20.29 |
Commercial property in Lebanon, CT asks $423/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lebanon?
Commercial property in Lebanon, CT asks an average of $423 per square foot. The 3 most recent recorded sales traded at a median of $83/SF, so asking sits 409% above the achieved median. Retail carries the highest asking price at $305/SF.
What zoning applies to commercial property in Lebanon?
Lebanon, CT zones 34,881 acres across 8 districts, of which 1.5% is commercial and 1.6% industrial. The largest single district is Rural Agriculture Residence at 69.8% of zoned land. The purpose of the Rural Agricultural (RA) Residence District is to allow for residential development surrounded by open space while at the same time preserving those areas which are capable of supporting agricultural pursuits. It is intended that non-residential non-agricultural uses in the RA Zone be limited to those which are primarily necessary or desira… Residential zoning covers 76.2% and open space 0%.
Where does Realmo's Lebanon market data come from?
Realmo compiles Lebanon, CT figures from 3 recent recorded sales, 12 active sale listings, 2 active lease listings, 52 tracked off-market properties, the current Lebanon zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 12 active for-sale and 2 active for-lease listings in Lebanon, 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: 34,881 zoned acres across 8 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 Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast 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 · How Realmo checks market page data · Report a data issue
