Commercial Real Estate Market in Matthews, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
40 active listings and 1,391 off-market properties in Matthews, NC. Commercial property asks $175/SF to buy (based on 3 listings) and $25.00/SF/Yr to lease (based on 3 listings).
Market Trends
Matthews, NC spans 52.8 square miles in Union County, North Carolina. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Matthews, NC runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Matthews, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Matthews, NC runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily vacancy in Matthews, NC runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 68.3%
- Commercial 10.9%
- Industrial 10.3%
- Civic 9%
- Mixed use 1.5%
Largest Zones share of zoned land by district
Matthews, NC zones 10,669 acres across 44 districts. Commercial zoning covers 10.9% of zoned land, residential 68.3% and industrial 10.3%. The largest single district is Single Family Residential at 30.7%. For commercial buyers the practical constraint is that only 21.2% of land carries a commercial or industrial designation.
The Residential or Institutional District is established to allow complementary development of certain institutional or public uses in predominantly residential areas. Uses in this District are generally considered compatible with residential growth but are of a significant size or scale which requires extra conditions in order to lessen their impact on neig…
Market overview
Demographics & Economy
Matthews, NC has 78,606 residents in 30,657 households. Density runs 1,488 people per square mile. Median household income here is $115,455 and median gross rent $1,681 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Matthews?
How much does it cost to lease commercial space in Matthews?
What zoning applies to commercial property in Matthews?
Where does Realmo's Matthews market data come from?
Methodology & data sources
- Asking prices and medians
- There are 14 active for-sale and 26 active for-lease listings in Matthews, NC. The medians are based on 3 of the for-sale and 3 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 10,669 zoned acres across 44 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 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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 October 2026 · How Realmo checks market page data · Report a data issue
