Commercial Real Estate Market in Georgetown, DE
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
78 active listings and 439 off-market properties in Georgetown, DE. Commercial property asks $275/SF to buy and $18.70/SF/Yr to lease.
Market Trends
Georgetown, DE spans 119.2 square miles in Sussex County, Delaware. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Georgetown, DE runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Georgetown, DE runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Georgetown, DE runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Georgetown, DE runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 53.8%
- Commercial 25.2%
- Industrial 10.4%
- Special 0.8%
Largest Zones share of zoned land by district
Urban Residential
Highway Commercial
Light Industrial
Education
Multifamily Residential
Georgetown, DE zones 3,117 acres across 19 districts. Commercial zoning covers 25.2% of zoned land, residential 53.8% and industrial 10.4%. The largest single district is Urban Residential at 25.4%. For commercial buyers the practical constraint is that only 35.6% of land carries a commercial or industrial designation.
Urban Residential (UR1)
Any use permitted in the UR1 Urban Residential District, UR2 Medium Residential District, UR3 Neighborhood Residential District, UB1 Urban Business District, UB2 Neighborhood Business District, UB3 Professional Business District or LI1 Limited Industrial District, provided that the provisions of the districts are met, where applicable. (2) Agriculture or far…
Market overview
Demographics & Economy
Georgetown, DE has 20,964 residents in 6,972 households. Density runs 176 people per square mile. Median household income here is $68,529 and median gross rent $1,298 a month.
20,964
Population
6,972
Households
3
Avg Household Size
37
Median Age
18%
College-Educated
76%
High-School Grad
119.2 sq mi
ZIP Area
176
Density / Sq Mi
$68,529
Median Household Income
$35,227
Median Earnings
$1,298
Median Rent
$294,000
Median Home Value
Tools
Lease vs Buy Breakeven
At $18.70/SF/Yr lease vs $275/SF buy → buying wins if held > 3.5 years.
At a 6.8% 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 |
|---|---|---|
| Harbeson | — | — |
| Millsboro | — | $11.45 |
| Milton | — | $25.00 |
Commercial property in Georgetown, DE asks $275/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Georgetown?
Commercial property in Georgetown, DE asks an average of $275 per square foot.
How much does it cost to lease commercial space in Georgetown?
Asking lease rates in Georgetown, DE average $18.70 per square foot per year.
Is it cheaper to lease or buy commercial space in Georgetown?
Buying beats leasing in Georgetown, DE if the property is held longer than 3.5 years, comparing $18.70/SF/Yr asking rent with $275/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 Georgetown?
Georgetown, DE zones 3,117 acres across 19 districts, of which 25.2% is commercial and 10.4% industrial. The largest single district is Urban Residential at 25.4% of zoned land. Any use permitted in the UR1 Urban Residential District, UR2 Medium Residential District, UR3 Neighborhood Residential District, UB1 Urban Business District, UB2 Neighborhood Business District, UB3 Professional Business District or LI1 Limited Industrial District, provided that the provisions of the districts are met, where applicable. (2) Agriculture or far… Residential zoning covers 53.8% and open space 0%.
Where does Realmo's Georgetown market data come from?
Realmo compiles Georgetown, DE figures from 7 recent recorded sales, 63 active sale listings, 15 active lease listings, 439 tracked off-market properties, the current Georgetown zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 63 active for-sale and 15 active for-lease listings in Georgetown, DE. 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: 3,117 zoned acres across 19 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 South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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
