Commercial Real Estate Market in Lebanon, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
43 active listings and 915 off-market properties in Lebanon, IN. Commercial property asks $20/SF to buy and $14.58/SF/Yr to lease.
Market Trends
Lebanon, IN spans 177.6 square miles in Boone County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lebanon, 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 Lebanon, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lebanon, 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 Lebanon, 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 38.3%
- Planned_development 25.3%
- Industrial 21.2%
- Commercial 9.4%
- Civic 5.4%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Planned Unit Development
Residential
Light Industrial
General Business
General Industrial
Planned Unit Development (PUD)
Initial zoning or rezoning to a PUD 5.4 Preliminary plan 5.5 PUD final detailed plan 5.6 Common areas and facilities 5.7 Modifications to the approved PUD Share Download Bookmark Print § 5.1 GENERAL PROVISIONS. (A) Description of District. This District is intended to provide more development flexibility and innovative approaches than are possible through th…
Market overview
Demographics & Economy
Lebanon, IN has 22,783 residents in 9,935 households. Density runs 128 people per square mile. Median household income here is $66,828 and median gross rent $911 a month.
22,783
Population
9,935
Households
2.3
Avg Household Size
41
Median Age
26%
College-Educated
90%
High-School Grad
177.6 sq mi
ZIP Area
128
Density / Sq Mi
$66,828
Median Household Income
$43,933
Median Earnings
$911
Median Rent
$200,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ulen | — | — |
| Whitestown | — | $22.88 |
| Advance | — | — |
| Thorntown | — | — |
Commercial property in Lebanon, IN asks $20/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lebanon?
Commercial property in Lebanon, IN asks an average of $20 per square foot.
How much does it cost to lease commercial space in Lebanon?
Asking lease rates in Lebanon, IN average $14.58 per square foot per year.
Where does Realmo's Lebanon market data come from?
Realmo compiles Lebanon, IN figures from 31 active sale listings, 12 active lease listings, 915 tracked off-market properties, the current Lebanon zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 31 active for-sale and 12 active for-lease listings in Lebanon, 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: 11,887 zoned acres across 12 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 and industrial vacancy is reported at Midwest 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
