Commercial Real Estate Market in Madison, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
16 active listings and 222 off-market properties in Madison, NJ. Commercial property asks $296/SF to buy and $36.50/SF/Yr to lease.
Market Trends
Madison, NJ spans 4.9 square miles in Morris County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Madison, NJ asks $200/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 Madison, NJ asks $325/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 Madison, 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 vacancy in Madison, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 64%
- Civic 18.3%
- Commercial 12.8%
- Mixed use 1.7%
- Open space 1%
Largest Zones share of zoned land by district
Single Family Residential
Single Family Residential
Open Space And Government Use
Single Family Residential
University
Madison, NJ zones 2,777 acres across 19 districts. Commercial zoning covers 12.8% of zoned land, residential 64% and open space 1%. The largest single district is Single Family Residential at 30%. For commercial buyers the practical constraint is that only 12.8% of land carries a commercial or industrial designation.
Single Family Residential (R-3)
R-1, R-2, R-3, Single-Family Residential Zones; R-4 Two-Family Residential Zone regulations. Purpose. The purpose of these zones is to preserve the integrity of existing residential areas by preventing the intrusion of nonresidential uses into residential neighborhoods and by maintaining existing development intensity and population density consistent with r…
Market overview
Demographics & Economy
Madison, NJ has 18,403 residents in 5,733 households. Density runs 3,746 people per square mile. Median household income here is $168,520 and median gross rent $2,248 a month.
18,403
Population
5,733
Households
3.2
Avg Household Size
34
Median Age
71%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
3,746
Density / Sq Mi
$168,520
Median Household Income
$53,352
Median Earnings
$2,248
Median Rent
$883,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Chatham | — | — |
| Chatham Township | — | — |
| Florham Park | — | — |
| Summit | — | $28.17 |
Commercial property in Madison, NJ asks $296/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madison?
Commercial property in Madison, NJ asks an average of $296 per square foot. The 6 most recent recorded sales traded at a median of $166/SF, so asking sits 79% above the achieved median. Retail carries the highest asking price at $325/SF.
How much does it cost to lease commercial space in Madison?
Asking lease rates in Madison, NJ average $36.50 per square foot per year.
What zoning applies to commercial property in Madison?
Madison, NJ zones 2,777 acres across 19 districts, of which 12.8% is commercial and 0% industrial. The largest single district is Single Family Residential at 30% of zoned land. R-1, R-2, R-3, Single-Family Residential Zones; R-4 Two-Family Residential Zone regulations. Purpose. The purpose of these zones is to preserve the integrity of existing residential areas by preventing the intrusion of nonresidential uses into residential neighborhoods and by maintaining existing development intensity and population density consistent with r… Residential zoning covers 64% and open space 1%.
Where does Realmo's Madison market data come from?
Realmo compiles Madison, NJ figures from 6 recent recorded sales, 5 active sale listings, 11 active lease listings, 222 tracked off-market properties, the current Madison zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 5 active for-sale and 11 active for-lease listings in Madison, 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: 2,777 zoned acres across 19 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 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 31 August 2026 · report a data issue
