Commercial Real Estate Market in Elizabeth, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
273 active listings and 2,092 off-market properties in Elizabeth, NJ. Commercial property asks $361/SF to buy and $17.72/SF/Yr to lease.
Market Trends
Elizabeth, NJ spans 12.3 square miles in Union County, New Jersey. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Elizabeth, NJ asks $283/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Elizabeth, NJ asks $453/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 Elizabeth, 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 Elizabeth, NJ asks $312/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
- Industrial 51.4%
- Residential 29.8%
- Commercial 14.9%
- Open space 4%
Largest Zones share of zoned land by district
Manufacturing Research And Commercial
Light Industrial
Two Family Residential
Regional Commercial
Four Family Residential
Elizabeth, NJ zones 6,664 acres across 20 districts. Commercial zoning covers 14.9% of zoned land, residential 29.8%, open space 4% and industrial 51.4%. The largest single district is Manufacturing Research And Commercial at 26.5%. For commercial buyers the practical constraint is that only 66.3% of land carries a commercial or industrial designation.
Manufacturing Research And Commercial (MRC-1)
District is intended to provide manufacturing research and commercial uses
Market overview
Demographics & Economy
Elizabeth, NJ has 137,322 residents in 48,940 households. Density runs 11,146 people per square mile. Median household income here is $63,665 and median gross rent $1,474 a month.
137,322
Population
48,940
Households
2.8
Avg Household Size
35
Median Age
14%
College-Educated
74%
High-School Grad
12.3 sq mi
ZIP Area
11,146
Density / Sq Mi
$63,665
Median Household Income
$37,465
Median Earnings
$1,474
Median Rent
$382,051
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bayonne | — | $19.68 |
| Hillside | — | — |
| Newark | — | $18.24 |
| Staten Island | $468 (county avg) | $29.59 |
Commercial property in Elizabeth, NJ asks $361/SF. That compares with $468/SF in Staten Island.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elizabeth?
Commercial property in Elizabeth, NJ asks an average of $361 per square foot. The 5 most recent recorded sales traded at a median of $195/SF, so asking sits 85% above the achieved median. Retail carries the highest asking price at $453/SF.
How much does it cost to lease commercial space in Elizabeth?
Asking lease rates in Elizabeth, NJ average $17.72 per square foot per year.
How does Elizabeth compare to nearby markets on price?
Elizabeth, NJ asks $361/SF against $468/SF in Staten Island.
What zoning applies to commercial property in Elizabeth?
Elizabeth, NJ zones 6,664 acres across 20 districts, of which 14.9% is commercial and 51.4% industrial. The largest single district is Manufacturing Research And Commercial at 26.5% of zoned land. District is intended to provide manufacturing research and commercial uses Residential zoning covers 29.8% and open space 4%.
Where does Realmo's Elizabeth market data come from?
Realmo compiles Elizabeth, NJ figures from 6 recent recorded sales, 197 active sale listings, 76 active lease listings, 2,092 tracked off-market properties, the current Elizabeth zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 197 active for-sale and 76 active for-lease listings in Elizabeth, 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: 6,664 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 30 September 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 and industrial vacancy is reported at Northeast 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 30 September 2026 · report a data issue
