Commercial Real Estate Market in Wallace, NC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
157 active listings and 472 off-market properties in Wallace, NC.
Market Trends
Wallace, NC spans 179.1 square miles in Duplin County, North Carolina. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Wallace, 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 Wallace, NC runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Wallace, 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 Wallace, 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 77.7%
- Commercial 12.2%
- Industrial 7%
- Special 2.1%
- Mixed use 1.1%
Largest Zones share of zoned land by district
Residential Manufactured Housing
Residential Agricultural
Highway Business
Industrial
Residential
Wallace, NC zones 7,593 acres across 12 districts. Commercial zoning covers 12.2% of zoned land, residential 77.7% and industrial 7%. The largest single district is Residential Manufactured Housing at 41.7%. For commercial buyers the practical constraint is that only 19.1% of land carries a commercial or industrial designation.
Residential Manufactured Housing (R-20MH)
The purpose of these R-20 MH districts are to provide locations for moderate to low intensity residential neighborhoods that include opportunities for development of supporting recreational, community service, and educational uses proximate to neighborhoods. These districts are created to encourage development of neighborhoods comprised chiefly of single-fam…
Market overview
Demographics & Economy
Wallace, NC has 8,773 residents in 4,647 households. Density runs 49 people per square mile. Median household income here is $61,906 and median gross rent $851 a month.
8,773
Population
4,647
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
85%
High-School Grad
179.1 sq mi
ZIP Area
49
Density / Sq Mi
$61,906
Median Household Income
$38,511
Median Earnings
$851
Median Rent
$179,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Teachey | — | — |
| Rose Hill | — | — |
| Willard | — | — |
| Watha | — | — |
Commercial property in Wallace, NC asks $698/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wallace?
Commercial property in Wallace, NC asks an average of $698 per square foot.
What zoning applies to commercial property in Wallace?
Wallace, NC zones 7,593 acres across 12 districts, of which 12.2% is commercial and 7% industrial. The largest single district is Residential Manufactured Housing at 41.7% of zoned land. The purpose of these R-20 MH districts are to provide locations for moderate to low intensity residential neighborhoods that include opportunities for development of supporting recreational, community service, and educational uses proximate to neighborhoods. These districts are created to encourage development of neighborhoods comprised chiefly of single-fam… Residential zoning covers 77.7% and open space 0%.
Where does Realmo's Wallace market data come from?
Realmo compiles Wallace, NC figures from 2 recent recorded sales, 145 active sale listings, 12 active lease listings, 472 tracked off-market properties, the current Wallace zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 145 active for-sale and 12 active for-lease listings in Wallace, 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: 7,593 zoned acres across 12 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
