Commercial Real Estate Market in Murphy, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
452 active listings and 774 off-market properties in Murphy, NC. Commercial property asks $21/SF to buy and $4.50/SF/Yr to lease.
Market Trends
Murphy, NC spans 333.4 square miles in Cherokee County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Murphy, 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 Murphy, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Murphy, 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 Murphy, 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 41.2%
- Commercial 30.2%
- Special 13.2%
- Industrial 11.6%
- Agricultural 3.9%
Largest Zones share of zoned land by district
Highway Business
High Density Residential
Medium Density Residential
Flood Way
Industrial And Heavy Commercial
Murphy, NC zones 1,716 acres across 7 districts. Commercial zoning covers 30.2% of zoned land, residential 41.2% and industrial 11.6%. The largest single district is Highway Business at 28.5%. For commercial buyers the practical constraint is that only 41.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Murphy, NC has 19,896 residents in 12,992 households. Density runs 60 people per square mile. Median household income here is $52,669 and median gross rent $872 a month.
19,896
Population
12,992
Households
1.5
Avg Household Size
55
Median Age
24%
College-Educated
92%
High-School Grad
333.4 sq mi
ZIP Area
60
Density / Sq Mi
$52,669
Median Household Income
$34,257
Median Earnings
$872
Median Rent
$219,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Brasstown | — | — |
| Marble | — | — |
| Unaka | — | — |
| Culberson | — | — |
Commercial property in Murphy, NC asks $21/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Murphy?
Commercial property in Murphy, NC asks an average of $21 per square foot. The 6 most recent recorded sales traded at a median of $67/SF.
How much does it cost to lease commercial space in Murphy?
Asking lease rates in Murphy, NC average $4.50 per square foot per year.
What zoning applies to commercial property in Murphy?
Murphy, NC zones 1,716 acres across 7 districts, of which 30.2% is commercial and 11.6% industrial. The largest single district is Highway Business at 28.5% of zoned land. Residential zoning covers 41.2% and open space 0%.
Where does Realmo's Murphy market data come from?
Realmo compiles Murphy, NC figures from 7 recent recorded sales, 450 active sale listings, 2 active lease listings, 774 tracked off-market properties, the current Murphy zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 450 active for-sale and 2 active for-lease listings in Murphy, 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: 1,716 zoned acres across 7 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 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 August 2026 · report a data issue
