Commercial Real Estate Market in Norwood, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
87 active listings and 694 off-market properties in Norwood, MA. Commercial property asks $132/SF to buy and $16.01/SF/Yr to lease.
Market Trends
Norwood, MA spans 10.5 square miles in Norfolk County, Massachusetts. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Norwood, 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 Norwood, 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 Norwood, 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 Norwood, MA asks $376/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 60.7%
- Industrial 21.9%
- Commercial 2.8%
- Mixed use 0.3%
Largest Zones share of zoned land by district
General Residence
Single Residence 2
Manufacturing
Boston Providence Highway District
Single Residence
Norwood, MA zones 6,743 acres across 15 districts. Commercial zoning covers 2.8% of zoned land, residential 60.7% and industrial 21.9%. The largest single district is General Residence at 20.9%. For commercial buyers the practical constraint is that only 24.7% of land carries a commercial or industrial designation.
General Residence (G)
The purpose of this district G is to promote General Residence uses.
Market overview
Demographics & Economy
Norwood, MA has 31,611 residents in 13,961 households. Density runs 2,997 people per square mile. Median household income here is $97,110 and median gross rent $2,056 a month.
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
2,997
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
Median Home Value
Tools
Lease vs Buy Breakeven
At $16.01/SF/Yr lease vs $132/SF buy → buying wins if held > 1 years.
At a 12.2% 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 |
|---|---|---|
| Westwood | — | — |
| Walpole | — | $9.87 |
| Dedham | — | — |
| Canton | — | $19.37 |
Commercial property in Norwood, MA asks $132/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Norwood?
Commercial property in Norwood, MA asks an average of $132 per square foot. The 7 most recent recorded sales traded at a median of $168/SF. Multifamily carries the highest asking price at $376/SF.
How much does it cost to lease commercial space in Norwood?
Asking lease rates in Norwood, MA average $16.01 per square foot per year.
Is it cheaper to lease or buy commercial space in Norwood?
Buying beats leasing in Norwood, MA if the property is held longer than 1.0 years, comparing $16.01/SF/Yr asking rent with $132/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.
What zoning applies to commercial property in Norwood?
Norwood, MA zones 6,743 acres across 15 districts, of which 2.8% is commercial and 21.9% industrial. The largest single district is General Residence at 20.9% of zoned land. The purpose of this district G is to promote General Residence uses. Residential zoning covers 60.7% and open space 0%.
Where does Realmo's Norwood market data come from?
Realmo compiles Norwood, MA figures from 7 recent recorded sales, 36 active sale listings, 51 active lease listings, 694 tracked off-market properties, the current Norwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 36 active for-sale and 51 active for-lease listings in Norwood, 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: 6,743 zoned acres across 15 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 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 · How Realmo checks market page data · Report a data issue
