Commercial Real Estate Market in Shelbyville, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
32 active listings and 1,147 off-market properties in Shelbyville, IN. Commercial property asks $72/SF to buy (based on 3 listings) and $103.75/SF/Yr to lease (based on 4 listings).
Market Trends
Shelbyville, IN spans 169.5 square miles in Shelby County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Shelbyville, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Shelbyville, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Shelbyville, 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 Shelbyville, 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
- Industrial 39.4%
- Residential 29.4%
- Commercial 14.8%
- Open space 5.4%
- Civic 4.7%
- Planned_development 4.3%
- Agricultural 1.8%
Largest Zones share of zoned land by district
Shelbyville, IN zones 11,839 acres across 16 districts. Commercial zoning covers 14.8% of zoned land, residential 29.4%, open space 5.4% and industrial 39.4%. The largest single district is General Industrial at 27.3%. For commercial buyers the practical constraint is that only 54.2% of land carries a commercial or industrial designation.
IG General Industrial This district is established for moderate intensity industrial uses and heavy manufacturing facilities. HI High Impact This district is established for uses that may have a high impact to the community. Establishment of Districts
Market overview
Demographics & Economy
Shelbyville, IN has 28,401 residents in 12,724 households. Density runs 168 people per square mile. Median household income here is $66,045 and median gross rent $962 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Shelbyville?
How much does it cost to lease commercial space in Shelbyville?
What zoning applies to commercial property in Shelbyville?
Where does Realmo's Shelbyville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 14 active for-lease listings in Shelbyville, IN. The medians are based on 3 of the for-sale and 4 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: 11,839 zoned acres across 16 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
