Commercial Real Estate Market in Norwood, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
90 active listings and 694 off-market properties in Norwood, MA. Commercial property asks $124/SF to buy and $15.27/SF/Yr to lease.
Market Trends
Norwood, MA spans 10.5 square miles in Norfolk County, Massachusetts. Figures below refresh monthly; last updated 31 August 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 $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 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
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Westwood | — | $17.02 |
| Walpole | — | $15.77 |
| Dedham | — | — |
| Canton | — | $19.14 |
Commercial property in Norwood, MA asks $124/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 $124 per square foot. The 7 most recent recorded sales traded at a median of $168/SF. Multifamily carries the highest asking price at $386/SF.
How much does it cost to lease commercial space in Norwood?
Asking lease rates in Norwood, MA average $15.27 per square foot per year.
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, 54 active lease listings, 694 tracked off-market properties, the current Norwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 36 active for-sale and 54 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 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
