Commercial Real Estate Market in Lyme, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 304 off-market properties in Lyme, CT. Commercial property asks $1,480/SF to buy and $32.00/SF/Yr to lease.
Market Trends
Lyme, CT spans 54.0 square miles in New London County, Connecticut. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lyme, CT runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Lyme, 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 Lyme, 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 Lyme, CT asks $177/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
- Agricultural 99.7%
- Commercial 0.3%
Largest Zones share of zoned land by district
Rural District
Rural District
Rural District
Commercial District
Waterfront Business District
Rural District (RU-120)
Each district shall be designated by the letter abbreviation listed below, followed by a number indicating the minimum lot area, in thousands of square feet, required in such district. A. Rural Districts (RU-40, RU-80, RU-120), as described in Article 4. B. Waterfront Business Districts (WF-20), as described in Article 5. C. Commercial Districts (C-40), as d…
Market overview
Demographics & Economy
Lyme, CT has 9,840 residents in 5,503 households. Density runs 182 people per square mile. Median household income here is $127,429 and median gross rent $1,891 a month.
9,840
Population
5,503
Households
1.8
Avg Household Size
53
Median Age
56%
College-Educated
98%
High-School Grad
54 sq mi
ZIP Area
182
Density / Sq Mi
$127,429
Median Household Income
$60,139
Median Earnings
$1,891
Median Rent
$468,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hadlyme | — | — |
| Essex | — | $13.27 |
| Centerbrook | — | — |
| East Haddam | — | — |
Commercial property in Lyme, CT asks $1,480/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lyme?
Commercial property in Lyme, CT asks an average of $1,480 per square foot. The 3 most recent recorded sales traded at a median of $159/SF, so asking sits 830% above the achieved median. Multifamily carries the highest asking price at $177/SF.
How much does it cost to lease commercial space in Lyme?
Asking lease rates in Lyme, CT average $32.00 per square foot per year.
Where does Realmo's Lyme market data come from?
Realmo compiles Lyme, CT figures from 6 recent recorded sales, 19 active sale listings, 10 active lease listings, 304 tracked off-market properties, the current Lyme zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 10 active for-lease listings in Lyme, 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: 20,801 zoned acres across 5 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, 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 31 August 2026 · report a data issue
