Commercial Real Estate Market in Martinsville, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
142 active listings and 766 off-market properties in Martinsville, IN. Commercial property asks $92/SF to buy and $13.20/SF/Yr to lease.
Market Trends
Martinsville, IN spans 203.6 square miles in Morgan County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Martinsville, 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 Martinsville, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Martinsville, 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 Martinsville, 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 67.9%
- Commercial 10.5%
- Planned_development 7.6%
- Industrial 5.5%
- Open space 3.1%
Largest Zones share of zoned land by district
Agriculture
Low Density Residential
Medium Density Residential
Retail Business
Martinsville Buffer
Martinsville, IN zones 5,499 acres across 17 districts. Commercial zoning covers 10.5% of zoned land, residential 67.9%, open space 3.1% and industrial 5.5%. The largest single district is Agriculture at 45.3%. For commercial buyers the practical constraint is that only 16% of land carries a commercial or industrial designation.
Agriculture (AG)
In general, these lands are in an agricultural district (AG) and will consist of land adjacent to streams or other natural drainage channels or areas that are low lying, difficult to drain, and subject to flood. Any ground shown as a floodplain fringe (those areas outside the floodway) in the Federal Emergency Management Agency (FEMA), flood insurance rate m…
Market overview
Demographics & Economy
Martinsville, IN has 32,335 residents in 13,366 households. Density runs 159 people per square mile. Median household income here is $77,724 and median gross rent $978 a month.
32,335
Population
13,366
Households
2.4
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
203.6 sq mi
ZIP Area
159
Density / Sq Mi
$77,724
Median Household Income
$45,426
Median Earnings
$978
Median Rent
$219,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Centerton | — | — |
| Bethany | — | — |
| Brooklyn | — | — |
| Paragon | — | — |
Commercial property in Martinsville, IN asks $92/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Martinsville?
Commercial property in Martinsville, IN asks an average of $92 per square foot.
How much does it cost to lease commercial space in Martinsville?
Asking lease rates in Martinsville, IN average $13.20 per square foot per year.
What zoning applies to commercial property in Martinsville?
Martinsville, IN zones 5,499 acres across 17 districts, of which 10.5% is commercial and 5.5% industrial. The largest single district is Agriculture at 45.3% of zoned land. In general, these lands are in an agricultural district (AG) and will consist of land adjacent to streams or other natural drainage channels or areas that are low lying, difficult to drain, and subject to flood. Any ground shown as a floodplain fringe (those areas outside the floodway) in the Federal Emergency Management Agency (FEMA), flood insurance rate m… Residential zoning covers 67.9% and open space 3.1%.
Where does Realmo's Martinsville market data come from?
Realmo compiles Martinsville, IN figures from 124 active sale listings, 18 active lease listings, 766 tracked off-market properties, the current Martinsville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 124 active for-sale and 18 active for-lease listings in Martinsville, 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: 5,499 zoned acres across 17 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
