Commercial Real Estate Market in Wakefield, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
51 active listings and 478 off-market properties in Wakefield, MA. Commercial property asks $652/SF to buy and $15.67/SF/Yr to lease.
Market Trends
Wakefield, MA spans 7.4 square miles in Middlesex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Wakefield, 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 Wakefield, 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 Wakefield, 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 Wakefield, MA asks $318/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 85.4%
- Industrial 8.9%
- Commercial 5.7%
Largest Zones share of zoned land by district
Single Residence
General Residence
Industrial
Business
Limited Business
Wakefield, MA zones 5,119 acres across 8 districts. Commercial zoning covers 5.7% of zoned land, residential 85.4% and industrial 8.9%. The largest single district is Single Residence at 63.5%. For commercial buyers the practical constraint is that only 14.6% of land carries a commercial or industrial designation.
Single Residence (SR)
District is also composed of areas intended for single-family residences and allowed accessory uses
Market overview
Demographics & Economy
Wakefield, MA has 27,071 residents in 11,513 households. Density runs 3,666 people per square mile. Median household income here is $130,419 and median gross rent $1,872 a month.
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,666
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Reading | — | — |
| Stoneham | — | $22.00 |
| Lynnfield | — | — |
| Woburn | — | $22.10 |
Commercial property in Wakefield, MA asks $652/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wakefield?
Commercial property in Wakefield, MA asks an average of $652 per square foot. The 6 most recent recorded sales traded at a median of $183/SF, so asking sits 256% above the achieved median. Multifamily carries the highest asking price at $318/SF.
How much does it cost to lease commercial space in Wakefield?
Asking lease rates in Wakefield, MA average $15.67 per square foot per year.
What zoning applies to commercial property in Wakefield?
Wakefield, MA zones 5,119 acres across 8 districts, of which 5.7% is commercial and 8.9% industrial. The largest single district is Single Residence at 63.5% of zoned land. District is also composed of areas intended for single-family residences and allowed accessory uses Residential zoning covers 85.4% and open space 0%.
Where does Realmo's Wakefield market data come from?
Realmo compiles Wakefield, MA figures from 6 recent recorded sales, 23 active sale listings, 28 active lease listings, 478 tracked off-market properties, the current Wakefield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 23 active for-sale and 28 active for-lease listings in Wakefield, 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: 5,119 zoned acres across 8 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
