Commercial Real Estate Market in Raleigh, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
668 active listings and 8,831 off-market properties in Raleigh, NC. Commercial property asks $277/SF to buy and $31.27/SF/Yr to lease.
Market Trends
Raleigh, NC spans 294.5 square miles in Wake County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Raleigh, NC asks $309/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail vacancy in Raleigh, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Raleigh, 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 space in Raleigh, NC asks $260/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 64.1%
- Mixed use 27.5%
- Planned_development 4.3%
- Open space 1.7%
- Agricultural 1.4%
- Civic 1.1%
Largest Zones share of zoned land by district
Residential 4
Residential 6
Residential 10
Residential 6 Conditional Zoning District
Planned Development
Residential 4 (R-4)
R-4, 60 feet in R-6 and 50 feet in R-10. F. Density, Lot Area per Dwelling Unit, and Site Area per Dwelling Unit Residential density, where applicable, is expressed in units per acre and is calculated by dividing the total number of dwelling units by the gross site area. Unless otherwise specified herein, minimum lot sizes, minimum site areas per dwelling un…
Market overview
Demographics & Economy
Raleigh, NC has 559,915 residents in 253,602 households. Density runs 1,901 people per square mile. Median household income here is $90,505 and median gross rent $1,465 a month.
559,915
Population
253,602
Households
2.2
Avg Household Size
35
Median Age
54%
College-Educated
93%
High-School Grad
294.5 sq mi
ZIP Area
1,901
Density / Sq Mi
$90,505
Median Household Income
$52,656
Median Earnings
$1,465
Median Rent
$415,028
Median Home Value
Tools
Lease vs Buy Breakeven
At $31.27/SF/Yr lease vs $277/SF buy → buying wins if held > 1.1 years.
At a 11.3% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Garner | — | $18.95 |
| Knightdale | — | — |
| Five Points | — | — |
| North Hills | — | — |
Commercial property in Raleigh, NC asks $277/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Raleigh?
Commercial property in Raleigh, NC asks an average of $277 per square foot. The 7 most recent recorded sales traded at a median of $355/SF. Office carries the highest asking price at $309/SF.
How much does it cost to lease commercial space in Raleigh?
Asking lease rates in Raleigh, NC average $31.27 per square foot per year.
Is it cheaper to lease or buy commercial space in Raleigh?
Buying beats leasing in Raleigh, NC if the property is held longer than 1.1 years, comparing $31.27/SF/Yr asking rent with $277/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Raleigh market data come from?
Realmo compiles Raleigh, NC figures from 7 recent recorded sales, 462 active sale listings, 206 active lease listings, 8,831 tracked off-market properties, the current Raleigh zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 462 active for-sale and 206 active for-lease listings in Raleigh, 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: 117,183 zoned acres across 264 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
