Commercial Real Estate Market in Andover, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 112 off-market properties in Andover, NJ.
Market Trends
Andover, NJ spans 42.8 square miles in Sussex County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Andover, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Andover, NJ asks $143/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Andover, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Andover, NJ asks $275/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 40.3%
- Open space 35.1%
- Commercial 14.9%
- Industrial 9.7%
Largest Zones share of zoned land by district
Preserved Zone
Residential Zone
Commercial
Commercial And Limited Industrial Zone
Industrial Park
Andover, NJ zones 870 acres across 8 districts. Commercial zoning covers 14.9% of zoned land, residential 40.3%, open space 35.1% and industrial 9.7%. The largest single district is Preserved Zone at 35.1%. For commercial buyers the practical constraint is that only 24.6% of land carries a commercial or industrial designation.
Preserved Zone (P)
P Preserved Zone § 134-44 Primary intended use and permitted uses. § 134-45 Accessory uses. § 134-46 (Reserved) Article X
Market overview
Demographics & Economy
Andover, NJ has 8,877 residents in 3,779 households. Density runs 207 people per square mile. Median household income here is $145,100 and median gross rent $1,646 a month.
8,877
Population
3,779
Households
2.3
Avg Household Size
45
Median Age
53%
College-Educated
97%
High-School Grad
42.8 sq mi
ZIP Area
207
Density / Sq Mi
$145,100
Median Household Income
$65,963
Median Earnings
$1,646
Median Rent
$401,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Green Township | — | — |
| Byram Township | — | — |
| Newton | — | $65.59 |
| Fredon | — | — |
Commercial property in Andover, NJ asks $711/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Andover?
Commercial property in Andover, NJ asks an average of $711 per square foot. The 5 most recent recorded sales traded at a median of $96/SF, so asking sits 641% above the achieved median. Multifamily carries the highest asking price at $275/SF.
What zoning applies to commercial property in Andover?
Andover, NJ zones 870 acres across 8 districts, of which 14.9% is commercial and 9.7% industrial. The largest single district is Preserved Zone at 35.1% of zoned land. P Preserved Zone § 134-44 Primary intended use and permitted uses. § 134-45 Accessory uses. § 134-46 (Reserved) Article X Residential zoning covers 40.3% and open space 35.1%.
Where does Realmo's Andover market data come from?
Realmo compiles Andover, NJ figures from 6 recent recorded sales, 9 active sale listings, 112 tracked off-market properties, the current Andover zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 0 active for-lease listings in Andover, NJ. 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: 870 zoned acres across 8 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 Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast 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
