Commercial Real Estate Market in Spencer, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
14 active listings and 137 off-market properties in Spencer, NC.
Market Trends
Spencer, NC spans 2.2 square miles in Rowan County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spencer, 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 Spencer, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Spencer, 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 Spencer, 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 31.6%
- Mixed use 22.6%
- Commercial 21.5%
- Civic 17.6%
- Industrial 6.6%
Largest Zones share of zoned land by district
Agriculture
Industrial
Civic
Residential Main Street Transition
Single Family Residential
Civic (CIV)
The Civic District (CIV) provides a location for educational, medical, governmental, religious, and other institutional uses. Large developments in the Civic District are encouraged to provide a master plan to the Town. Institutional uses in the Civic District are required to provide pedestrian connections on their campuses and, to the extent possible, devel…
Market overview
Demographics & Economy
Spencer, NC has 3,067 residents in 1,458 households. Density runs 1,372 people per square mile. Median household income here is $63,396 and median gross rent $1,042 a month.
3,067
Population
1,458
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
1,372
Density / Sq Mi
$63,396
Median Household Income
$43,302
Median Earnings
$1,042
Median Rent
$160,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Spencer | — | — |
| Salisbury | — | $93.41 |
| Linwood | — | — |
| Granite Quarry | — | — |
Commercial property in Spencer, NC asks $410/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spencer?
Commercial property in Spencer, NC asks an average of $410 per square foot. The 6 most recent recorded sales traded at a median of $52/SF, so asking sits 696% above the achieved median.
Where does Realmo's Spencer market data come from?
Realmo compiles Spencer, NC figures from 8 recent recorded sales, 14 active sale listings, 137 tracked off-market properties, the current Spencer zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 14 active for-sale and 0 active for-lease listings in Spencer, 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: 3,873 zoned acres across 13 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
