Commercial Real Estate Market in Madrid, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
14 active listings and 231 off-market properties in Madrid, IA.
Market Trends
Madrid, IA spans 88.5 square miles in Boone County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Madrid, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Madrid, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Madrid, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Madrid, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 74.3%
- Commercial 13%
- Open space 7.3%
- Industrial 5.4%
Largest Zones share of zoned land by district
One And Two Family Residential District
Multiple Family Residential District
Floodplain And Conservation District
Central Commercial District
Central Business And Highway Commercial District
Madrid, IA zones 786 acres across 7 districts. Commercial zoning covers 13% of zoned land, residential 74.3%, open space 7.3% and industrial 5.4%. The largest single district is One And Two Family Residential District at 57%. For commercial buyers the practical constraint is that only 18.4% of land carries a commercial or industrial designation.
Multiple Family Residential District (R-2)
SECTION 14. R-2 DISTRICT REGULATIONS (Multiple Family Dwellings Districts). Statement of Intent. The R-2 District is intended and designed for certain medium density residential areas of the City now developed with multiple family dwellings and areas where similar residential development seems likely to occur. A. Pennitted Principal Uses. Only the use of str…
Market overview
Demographics & Economy
Madrid, IA has 4,662 residents in 1,896 households. Density runs 53 people per square mile. Median household income here is $97,298 and median gross rent $865 a month.
4,662
Population
1,896
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
88.5 sq mi
ZIP Area
53
Density / Sq Mi
$97,298
Median Household Income
$53,350
Median Earnings
$865
Median Rent
$219,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Zook Spur | — | — |
| Moran | — | — |
| Luther | — | — |
| Sheldahl | — | — |
Commercial property in Madrid, IA asks $318/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madrid?
Commercial property in Madrid, IA asks an average of $318 per square foot. The 3 most recent recorded sales traded at a median of $87/SF, so asking sits 266% above the achieved median.
What zoning applies to commercial property in Madrid?
Madrid, IA zones 786 acres across 7 districts, of which 13% is commercial and 5.4% industrial. The largest single district is One And Two Family Residential District at 57% of zoned land. Residential zoning covers 74.3% and open space 7.3%.
Where does Realmo's Madrid market data come from?
Realmo compiles Madrid, IA figures from 5 recent recorded sales, 13 active sale listings, 1 active lease listings, 231 tracked off-market properties, the current Madrid zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 13 active for-sale and 1 active for-lease listings in Madrid, IA. 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: 786 zoned acres across 7 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 Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest 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
