Commercial Real Estate Market in Lewes, DE
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
95 active listings and 506 off-market properties in Lewes, DE. Commercial property asks $191/SF to buy and $22.78/SF/Yr to lease.
Market Trends
Lewes, DE spans 47.3 square miles in Sussex County, Delaware. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lewes, 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 Lewes, DE runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Lewes, 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 Lewes, 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
- Open space 56.4%
- Residential 35.2%
- Commercial 2.9%
- Industrial 1.1%
- Civic 0.8%
- Special 0.1%
Largest Zones share of zoned land by district
Open Space
Residential Low Density
Residential Beach
Mixed Residential
Residential Medium Density Historic
Lewes, DE zones 2,702 acres across 20 districts. Commercial zoning covers 2.9% of zoned land, residential 35.2%, open space 56.4% and industrial 1.1%. The largest single district is Open Space at 55.2%. For commercial buyers the practical constraint is that only 4% of land carries a commercial or industrial designation.
Open Space (OS)
No structure shall be located; no existing structure shall be altered, enlarged, moved or rebuilt; and no open space surrounding any structure shall be encroached upon or reduced in any manner that does not conform with the yard, lot, area, and building location regulations designated for the zoning district in which such building or open space is located un…
Market overview
Demographics & Economy
Lewes, DE has 27,911 residents in 19,410 households. Density runs 590 people per square mile. Median household income here is $91,445 and median gross rent $1,654 a month.
27,911
Population
19,410
Households
1.4
Avg Household Size
61
Median Age
49%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
590
Density / Sq Mi
$91,445
Median Household Income
$49,124
Median Earnings
$1,654
Median Rent
$488,900
Median Home Value
Tools
Lease vs Buy Breakeven
At $22.78/SF/Yr lease vs $191/SF buy → buying wins if held > 1 years.
At a 11.9% 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 |
|---|---|---|
| Nassau | — | — |
| Rehoboth Beach | — | — |
| Rehoboth | — | — |
| Dewey Beach | — | — |
Commercial property in Lewes, DE asks $191/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lewes?
Commercial property in Lewes, DE asks an average of $191 per square foot.
How much does it cost to lease commercial space in Lewes?
Asking lease rates in Lewes, DE average $22.78 per square foot per year.
Is it cheaper to lease or buy commercial space in Lewes?
Buying beats leasing in Lewes, DE if the property is held longer than 1.0 years, comparing $22.78/SF/Yr asking rent with $191/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 Lewes?
Lewes, DE zones 2,702 acres across 20 districts, of which 2.9% is commercial and 1.1% industrial. The largest single district is Open Space at 55.2% of zoned land. No structure shall be located; no existing structure shall be altered, enlarged, moved or rebuilt; and no open space surrounding any structure shall be encroached upon or reduced in any manner that does not conform with the yard, lot, area, and building location regulations designated for the zoning district in which such building or open space is located un… Residential zoning covers 35.2% and open space 56.4%.
Where does Realmo's Lewes market data come from?
Realmo compiles Lewes, DE figures from 5 recent recorded sales, 78 active sale listings, 17 active lease listings, 506 tracked off-market properties, the current Lewes zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 78 active for-sale and 17 active for-lease listings in Lewes, 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: 2,702 zoned acres across 20 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 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 31 August 2026 · report a data issue
