Commercial Real Estate Market in Millis, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
10 active listings and 162 off-market properties in Millis, MA.
Market Trends
Millis, MA spans 12.0 square miles in Norfolk County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Millis, 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 Millis, 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 Millis, 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 Millis, MA asks $386/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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 91.9%
- Industrial 6.2%
- Mixed use 1.2%
- Commercial 0.8%
Largest Zones share of zoned land by district
Residential Town
Residential Suburban
Residential Village
Industrial Park Two
Mixed Use Development
Millis, MA zones 7,842 acres across 9 districts. Commercial zoning covers 0.8% of zoned land, residential 91.9% and industrial 6.2%. The largest single district is Residential Town at 48.5%. For commercial buyers the practical constraint is that only 6.9% of land carries a commercial or industrial designation.
Residential Town (R-T)
The purpose of this district is to provide residential uses
Market overview
Demographics & Economy
Millis, MA has 8,460 residents in 3,580 households. Density runs 703 people per square mile. Median household income here is $149,021 and median gross rent $1,733 a month.
8,460
Population
3,580
Households
2.4
Avg Household Size
44
Median Age
51%
College-Educated
97%
High-School Grad
12 sq mi
ZIP Area
703
Density / Sq Mi
$149,021
Median Household Income
$70,932
Median Earnings
$1,733
Median Rent
$570,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Medfield | — | — |
| Medway | — | — |
| Norfolk | — | — |
| Holliston | — | $17.33 |
Commercial property in Millis, MA asks $143/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Millis?
Commercial property in Millis, MA asks an average of $143 per square foot. The 5 most recent recorded sales traded at a median of $424/SF. Multifamily carries the highest asking price at $386/SF.
What zoning applies to commercial property in Millis?
Millis, MA zones 7,842 acres across 9 districts, of which 0.8% is commercial and 6.2% industrial. The largest single district is Residential Town at 48.5% of zoned land. The purpose of this district is to provide residential uses Residential zoning covers 91.9% and open space 0%.
Where does Realmo's Millis market data come from?
Realmo compiles Millis, MA figures from 6 recent recorded sales, 3 active sale listings, 7 active lease listings, 162 tracked off-market properties, the current Millis zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 7 active for-lease listings in Millis, 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.
- Zoning and land use
- The current municipal zoning release: 7,842 zoned acres across 9 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 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 31 August 2026 · report a data issue
