Commercial Real Estate Market in Peabody, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
101 active listings and 876 off-market properties in Peabody, MA. Commercial property asks $285/SF to buy and $23.16/SF/Yr to lease.
Market Trends
Peabody, MA spans 16.0 square miles in Essex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Peabody, 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 Peabody, 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 Peabody, 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 Peabody, MA asks $324/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 78.8%
- Commercial 11.2%
- Industrial 10%
Largest Zones share of zoned land by district
Single Family Residence
Single Family Residence
Single Family Residence
Industrial Park
Regional Business
Peabody, MA zones 8,871 acres across 18 districts. Commercial zoning covers 11.2% of zoned land, residential 78.8% and industrial 10%. The largest single district is Single Family Residence at 41.4%. For commercial buyers the practical constraint is that only 21.2% of land carries a commercial or industrial designation.
Industrial Park (IP)
IP Industrial Park. To provide for a large area where uses requiring the manufacture, assembly, processing or handling of materials can locate, along with related office facilities. 3.2.11 DDD Designated Development District. To provide for professional uses like office, research and development, and light manufacturing as well as support services like hotel…
Market overview
Demographics & Economy
Peabody, MA has 54,155 residents in 23,009 households. Density runs 3,381 people per square mile. Median household income here is $95,173 and median gross rent $1,902 a month.
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16 sq mi
ZIP Area
3,381
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
Tools
Lease vs Buy Breakeven
At $23.16/SF/Yr lease vs $285/SF buy → buying wins if held > 2.2 years.
At a 8.1% 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 |
|---|---|---|
| Salem | — | $22.21 |
| Danvers | — | $19.05 |
| Swampscott | — | — |
| Marblehead | — | $36.08 |
Commercial property in Peabody, MA asks $285/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Peabody?
Commercial property in Peabody, MA asks an average of $285 per square foot. The 3 most recent recorded sales traded at a median of $401/SF. Multifamily carries the highest asking price at $324/SF.
How much does it cost to lease commercial space in Peabody?
Asking lease rates in Peabody, MA average $23.16 per square foot per year.
Is it cheaper to lease or buy commercial space in Peabody?
Buying beats leasing in Peabody, MA if the property is held longer than 2.2 years, comparing $23.16/SF/Yr asking rent with $285/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 Peabody?
Peabody, MA zones 8,871 acres across 18 districts, of which 11.2% is commercial and 10% industrial. The largest single district is Single Family Residence at 41.4% of zoned land. Residential zoning covers 78.8% and open space 0%.
Where does Realmo's Peabody market data come from?
Realmo compiles Peabody, MA figures from 6 recent recorded sales, 37 active sale listings, 64 active lease listings, 876 tracked off-market properties, the current Peabody zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 37 active for-sale and 64 active for-lease listings in Peabody, 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: 8,871 zoned acres across 18 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
