Commercial Real Estate Market in Matthews, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
82 active listings and 1,391 off-market properties in Matthews, NC. Commercial property asks $776/SF to buy and $22.12/SF/Yr to lease.
Market Trends
Matthews, NC spans 52.8 square miles in Union County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Matthews, NC runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Matthews, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
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%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Matthews, NC runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
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
Single Family Residential
Single Family Residential
Single Family Residential
Residential Institutional Conditional
General Industrial Conditional
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.
Residential Institutional Conditional (R/I(CD))
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.
78,606
Population
30,657
Households
2.6
Avg Household Size
41
Median Age
54%
College-Educated
95%
High-School Grad
52.8 sq mi
ZIP Area
1,488
Density / Sq Mi
$115,455
Median Household Income
$54,510
Median Earnings
$1,681
Median Rent
$429,986
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Weddington | — | — |
| Wesley Chapel | — | — |
| Stallings | — | — |
| Lake Park | — | — |
Commercial property in Matthews, NC asks $776/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Matthews?
Commercial property in Matthews, NC asks an average of $776 per square foot. The 6 most recent recorded sales traded at a median of $191/SF, so asking sits 307% above the achieved median.
How much does it cost to lease commercial space in Matthews?
Asking lease rates in Matthews, NC average $22.12 per square foot per year.
What zoning applies to commercial property in Matthews?
Matthews, NC zones 10,669 acres across 44 districts, of which 10.9% is commercial and 10.3% industrial. The largest single district is Single Family Residential at 30.7% of zoned land. Residential zoning covers 68.3% and open space 0%.
Where does Realmo's Matthews market data come from?
Realmo compiles Matthews, NC figures from 6 recent recorded sales, 66 active sale listings, 16 active lease listings, 1,391 tracked off-market properties, the current Matthews zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 66 active for-sale and 16 active for-lease listings in Matthews, NC. 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: 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 August 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, industrial vacancy is reported at South 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
