Commercial Real Estate Market in Chestnut Hill, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
175 active listings and 1,224 off-market properties in Chestnut Hill, MA. Commercial property asks $505/SF to buy and $34.39/SF/Yr to lease.
Market Trends
Chestnut Hill, MA spans 4.9 square miles in Middlesex County, Massachusetts. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Chestnut Hill, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Chestnut Hill, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Chestnut Hill, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Chestnut Hill, MA asks $359/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
Chestnut Hill, MA has 22,626 residents in 7,293 households. Density runs 4,612 people per square mile. Median household income here is $173,854 and median gross rent $3,067 a month.
22,626
Population
7,293
Households
3.1
Avg Household Size
31
Median Age
83%
College-Educated
99%
High-School Grad
4.9 sq mi
ZIP Area
4,612
Density / Sq Mi
$173,854
Median Household Income
$47,877
Median Earnings
$3,067
Median Rent
$1,249,100
Median Home Value
Tools
Lease vs Buy Breakeven
At $34.39/SF/Yr lease vs $505/SF buy → buying wins if held > 3.5 years.
At a 6.8% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Brookline | — | $63.90 |
| Newton | — | $34.39 |
| Cambridge | — | $41.87 |
| Belmont | — | $37.36 |
Commercial property in Chestnut Hill, MA asks $505/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Chestnut Hill?
Commercial property in Chestnut Hill, MA asks an average of $505 per square foot. The 6 most recent recorded sales traded at a median of $451/SF, so asking sits 12% above the achieved median. Multifamily carries the highest asking price at $359/SF.
How much does it cost to lease commercial space in Chestnut Hill?
Asking lease rates in Chestnut Hill, MA average $34.39 per square foot per year.
Is it cheaper to lease or buy commercial space in Chestnut Hill?
Buying beats leasing in Chestnut Hill, MA if the property is held longer than 3.5 years, comparing $34.39/SF/Yr asking rent with $505/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Chestnut Hill market data come from?
Realmo compiles Chestnut Hill, MA figures from 6 recent recorded sales, 80 active sale listings, 95 active lease listings, 1,224 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 80 active for-sale and 95 active for-lease listings in Chestnut Hill, MA. 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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 30 September 2026 · report a data issue
