Commercial Real Estate Market in Smithfield, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
82 active listings and 777 off-market properties in Smithfield, NC. Commercial property asks $6/SF to buy and $20.62/SF/Yr to lease.
Market Trends
Smithfield, NC spans 103.7 square miles in Johnston County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Smithfield, 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 Smithfield, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Smithfield, 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 Smithfield, 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 82.5%
- Commercial 6.5%
- Industrial 6%
- Civic 4.1%
- Planned_development 1%
Largest Zones share of zoned land by district
Residential Agricultural District
Single Family Residential District
Highway Entrance Way Business District
Single Two And Multifamily Residential District Conditional Zoning
Office Institutional District
Smithfield, NC zones 22,660 acres across 20 districts. Commercial zoning covers 6.5% of zoned land, residential 82.5% and industrial 6%. The largest single district is Residential Agricultural District at 69.2%. For commercial buyers the practical constraint is that only 12.4% of land carries a commercial or industrial designation.
Residential Agricultural District (R-20A)
R-20A Residential-Agricultural District: The purpose of this district is to provide for areas where the principal use of land is for low density residential and agricultural purposes. The regulations of this district are intended to protect the agricultural sections of the community from an influx of uses likely to render them undesirable for farms and futur…
Market overview
Demographics & Economy
Smithfield, NC has 24,972 residents in 10,744 households. Density runs 241 people per square mile. Median household income here is $56,237 and median gross rent $802 a month.
24,972
Population
10,744
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
82%
High-School Grad
103.7 sq mi
ZIP Area
241
Density / Sq Mi
$56,237
Median Household Income
$39,604
Median Earnings
$802
Median Rent
$230,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Selma | — | $16.88 |
| Wilsons Mills | — | — |
| Pine Level | — | — |
| Four Oaks | — | — |
Commercial property in Smithfield, NC asks $6/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Smithfield?
Commercial property in Smithfield, NC asks an average of $6 per square foot. The 7 most recent recorded sales traded at a median of $211/SF.
How much does it cost to lease commercial space in Smithfield?
Asking lease rates in Smithfield, NC average $20.62 per square foot per year.
What zoning applies to commercial property in Smithfield?
Smithfield, NC zones 22,660 acres across 20 districts, of which 6.5% is commercial and 6% industrial. The largest single district is Residential Agricultural District at 69.2% of zoned land. R-20A Residential-Agricultural District: The purpose of this district is to provide for areas where the principal use of land is for low density residential and agricultural purposes. The regulations of this district are intended to protect the agricultural sections of the community from an influx of uses likely to render them undesirable for farms and futur… Residential zoning covers 82.5% and open space 0%.
Where does Realmo's Smithfield market data come from?
Realmo compiles Smithfield, NC figures from 8 recent recorded sales, 66 active sale listings, 16 active lease listings, 777 tracked off-market properties, the current Smithfield 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 Smithfield, 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: 22,660 zoned acres across 20 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
