Commercial Real Estate Market in Preston, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
204 active listings and 1,413 off-market properties in Preston, CT. Commercial property asks $81/SF to buy and $15.24/SF/Yr to lease.
Market Trends
Preston, CT spans 30.4 square miles in New London County, Connecticut. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Preston, 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 Preston, 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 Preston, 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 Preston, 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 90.4%
- Commercial 2.9%
- Industrial 2.8%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Residential
Residential
Residential
Residential
Thames River Design District
Preston, CT zones 19,904 acres across 10 districts. Commercial zoning covers 2.9% of zoned land, residential 90.4% and industrial 2.8%. The largest single district is Residential at 62.7%. For commercial buyers the practical constraint is that only 5.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Preston, CT has 4,770 residents in 2,088 households. Density runs 157 people per square mile. Median household income here is $109,441 and median gross rent $1,628 a month.
4,770
Population
2,088
Households
2.3
Avg Household Size
47
Median Age
27%
College-Educated
96%
High-School Grad
30.4 sq mi
ZIP Area
157
Density / Sq Mi
$109,441
Median Household Income
$48,589
Median Earnings
$1,628
Median Rent
$343,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Norwich | — | $15.24 |
| Lisbon | — | — |
| North Stonington | — | — |
Commercial property in Preston, CT asks $81/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Preston?
Commercial property in Preston, CT asks an average of $81 per square foot. The 5 most recent recorded sales traded at a median of $80/SF, so asking sits 1% above the achieved median. Retail carries the highest asking price at $305/SF.
How much does it cost to lease commercial space in Preston?
Asking lease rates in Preston, CT average $15.24 per square foot per year.
What zoning applies to commercial property in Preston?
Preston, CT zones 19,904 acres across 10 districts, of which 2.9% is commercial and 2.8% industrial. The largest single district is Residential at 62.7% of zoned land. Residential zoning covers 90.4% and open space 0%.
Where does Realmo's Preston market data come from?
Realmo compiles Preston, CT figures from 6 recent recorded sales, 147 active sale listings, 57 active lease listings, 1,413 tracked off-market properties, the current Preston zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 147 active for-sale and 57 active for-lease listings in Preston, 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: 19,904 zoned acres across 10 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 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 30 September 2026 · How Realmo checks market page data · Report a data issue
