Commercial Real Estate Market in Northborough, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
54 active listings and 355 off-market properties in Northborough, MA. Commercial property asks $554/SF to buy and $34.14/SF/Yr to lease.
Market Trends
Northborough, MA spans 18.5 square miles in Worcester County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Northborough, 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 Northborough, 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 Northborough, 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 Northborough, MA asks $216/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 91.1%
- Commercial 5.9%
- Industrial 3%
Largest Zones share of zoned land by district
Residence C
Residence B
Residence A
Industrial
General Residential
Northborough, MA zones 20,652 acres across 12 districts. Commercial zoning covers 5.9% of zoned land, residential 91.1% and industrial 3%. The largest single district is Residence C at 40.5%. For commercial buyers the practical constraint is that only 8.9% of land carries a commercial or industrial designation.
Residence C (RC)
In the RC, GR, MSR, and DN districts, approval of a two-family dwelling shall be subject to design review by the Design Review Committee in accordance with two-family design guidelines adopted by the Planning Board and on file with the Town Clerk. 4 In the Downtown Neighborhood District, the maximum number of multifamily units on a lot shall be four permitte…
Market overview
Demographics & Economy
Northborough, MA has 15,741 residents in 5,913 households. Density runs 852 people per square mile. Median household income here is $174,358 and median gross rent $2,087 a month.
15,741
Population
5,913
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
18.5 sq mi
ZIP Area
852
Density / Sq Mi
$174,358
Median Household Income
$90,816
Median Earnings
$2,087
Median Rent
$598,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Shrewsbury | — | $19.59 |
| Westborough | — | $16.73 |
| Berlin | — | — |
| Marlborough | — | $32.27 |
Commercial property in Northborough, MA asks $554/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Northborough?
Commercial property in Northborough, MA asks an average of $554 per square foot. The 7 most recent recorded sales traded at a median of $176/SF, so asking sits 214% above the achieved median. Multifamily carries the highest asking price at $216/SF.
How much does it cost to lease commercial space in Northborough?
Asking lease rates in Northborough, MA average $34.14 per square foot per year.
What zoning applies to commercial property in Northborough?
Northborough, MA zones 20,652 acres across 12 districts, of which 5.9% is commercial and 3% industrial. The largest single district is Residence C at 40.5% of zoned land. In the RC, GR, MSR, and DN districts, approval of a two-family dwelling shall be subject to design review by the Design Review Committee in accordance with two-family design guidelines adopted by the Planning Board and on file with the Town Clerk. 4 In the Downtown Neighborhood District, the maximum number of multifamily units on a lot shall be four permitte… Residential zoning covers 91.1% and open space 0%.
Where does Realmo's Northborough market data come from?
Realmo compiles Northborough, MA figures from 8 recent recorded sales, 33 active sale listings, 21 active lease listings, 355 tracked off-market properties, the current Northborough zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 33 active for-sale and 21 active for-lease listings in Northborough, 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: 20,652 zoned acres across 12 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, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- 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
