Commercial Real Estate Market in Lawrence, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
428 active listings and 4,591 off-market properties in Lawrence, NJ. Commercial property asks $144/SF to buy and $18.38/SF/Yr to lease.
Market Trends
Lawrence, NJ spans 16.7 square miles in Mercer County, New Jersey. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lawrence, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Lawrence, NJ runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Lawrence, 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 Lawrence, NJ asks $181/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
- Agricultural 30%
- Open space 28.6%
- Residential 13.9%
- Mixed use 0.7%
- Industrial 0.6%
- Commercial 0.5%
Largest Zones share of zoned land by district
Agriculture Minimum 3.0 Acres
Conservation Minimum 5.0 Acres
Public
Medium Density Residential Minimum 1.0 Acres
Rural Residential Minimum 2.0 Acres
Agriculture Minimum 3.0 Acres (A)
The intent of the zone to promote Agriculture District
Market overview
Demographics & Economy
Lawrence, NJ has 31,955 residents in 12,217 households. Density runs 1,915 people per square mile. Median household income here is $118,036 and median gross rent $1,953 a month.
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,915
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
Median Home Value
Tools
Lease vs Buy Breakeven
At $18.38/SF/Yr lease vs $144/SF buy → buying wins if held > 0.9 years.
At a 12.8% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lawrence Township | — | $15.86 |
| Pennington | — | $17.00 |
Commercial property in Lawrence, NJ asks $144/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lawrence?
Commercial property in Lawrence, NJ asks an average of $144 per square foot. The 4 most recent recorded sales traded at a median of $154/SF. Multifamily carries the highest asking price at $181/SF.
How much does it cost to lease commercial space in Lawrence?
Asking lease rates in Lawrence, NJ average $18.38 per square foot per year.
Is it cheaper to lease or buy commercial space in Lawrence?
Buying beats leasing in Lawrence, NJ if the property is held longer than 0.9 years, comparing $18.38/SF/Yr asking rent with $144/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Lawrence market data come from?
Realmo compiles Lawrence, NJ figures from 6 recent recorded sales, 304 active sale listings, 124 active lease listings, 4,591 tracked off-market properties, the current Lawrence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 304 active for-sale and 124 active for-lease listings in Lawrence, 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: 24,365 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 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
