Commercial Real Estate Market in Martinsville, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
31 active listings and 766 off-market properties in Martinsville, IN. Commercial property asks $142/SF to buy (based on 6 listings) and $12.00/SF/Yr to lease (based on 3 listings).
Market Trends
Martinsville, IN spans 203.6 square miles in Morgan County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Martinsville, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Martinsville, IN has a median asking sale price of $124/SF (based on 4 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily vacancy in Martinsville, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Martinsville?
How much does it cost to lease commercial space in Martinsville?
What zoning applies to commercial property in Martinsville?
Where does Realmo's Martinsville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 21 active for-sale and 10 active for-lease listings in Martinsville, IN. The medians are based on 6 of the for-sale and 3 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
