Commercial Real Estate Market in Colfax, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 108 off-market properties in Colfax, IN. Commercial property asks $76/SF to buy and $22.50/SF/Yr to lease.
Market Trends
Colfax, IN spans 24.9 square miles in Clinton County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Colfax, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Colfax, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Colfax, IN 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 Colfax, IN 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 83.7%
- Industrial 11.8%
- Commercial 4.5%
Largest Zones share of zoned land by district
Medium Density Residential
Agribusiness
Central Business
High Density Residential
General Business
Colfax, IN zones 243 acres across 5 districts. Commercial zoning covers 4.5% of zoned land, residential 83.7% and industrial 11.8%. The largest single district is Medium Density Residential at 80.5%. For commercial buyers the practical constraint is that only 16.3% of land carries a commercial or industrial designation.
Medium Density Residential (R-3)
R-3 district includes areas of primarily single-family dwellings in Frankfort and the towns, which have historically developed at higher density and where municipal water and sewer are provided. Density shall not exceed four dwelling units per acre. Two-family and multi-family dwellings are possible in this district but both require a special exception.
Market overview
Demographics & Economy
Colfax, IN has 1,130 residents in 495 households. Density runs 45 people per square mile. Median household income here is $72,446 and median gross rent $778 a month.
1,130
Population
495
Households
2.3
Avg Household Size
41
Median Age
8%
College-Educated
96%
High-School Grad
24.9 sq mi
ZIP Area
45
Density / Sq Mi
$72,446
Median Household Income
$48,500
Median Earnings
$778
Median Rent
$131,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Clarks Hill | — | — |
| Thorntown | — | — |
| Darlington | — | — |
| Stockwell | — | — |
Commercial property in Colfax, IN asks $76/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Colfax?
Commercial property in Colfax, IN asks an average of $76 per square foot. The 3 most recent recorded sales traded at a median of $23/SF, so asking sits 233% above the achieved median.
How much does it cost to lease commercial space in Colfax?
Asking lease rates in Colfax, IN average $22.50 per square foot per year.
What zoning applies to commercial property in Colfax?
Colfax, IN zones 243 acres across 5 districts, of which 4.5% is commercial and 11.8% industrial. The largest single district is Medium Density Residential at 80.5% of zoned land. R-3 district includes areas of primarily single-family dwellings in Frankfort and the towns, which have historically developed at higher density and where municipal water and sewer are provided. Density shall not exceed four dwelling units per acre. Two-family and multi-family dwellings are possible in this district but both require a special exception. Residential zoning covers 83.7% and open space 0%.
Where does Realmo's Colfax market data come from?
Realmo compiles Colfax, IN figures from 3 recent recorded sales, 3 active sale listings, 2 active lease listings, 108 tracked off-market properties, the current Colfax zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 2 active for-lease listings in Colfax, IN. 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: 243 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 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
