Commercial Real Estate Market in Murphy, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
22 active listings and 773 off-market properties in Murphy, NC.
Market Trends
Murphy, NC spans 333.4 square miles in Cherokee County, North Carolina. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Murphy, NC has a median asking sale price of $143/SF (based on 4 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Murphy, NC has a median asking sale price of $83/SF (based on 4 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Murphy, NC has a median asking sale price of $95/SF (based on 4 listings). Vacancy 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 Murphy, 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 41.2%
- Commercial 30.2%
- Special 13.2%
- Industrial 11.6%
- Agricultural 3.9%
Largest Zones share of zoned land by district
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Andrews | $168 | — |
| Blairsville | $200 | $15.89 |
Commercial property in Murphy, NC asks $155/SF. The 2 bordering markets run from $168/SF in Andrews to $200/SF in Blairsville, and the city sits below their $184/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Murphy?
How does Murphy compare to nearby markets on price?
What zoning applies to commercial property in Murphy?
Where does Realmo's Murphy market data come from?
Methodology & data sources
- Asking prices and medians
- There are 21 active for-sale and 1 active for-lease listings in Murphy, NC. The sale median is based on 16 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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: 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 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, 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 October 2026 · How Realmo checks market page data · Report a data issue
