Commercial Real Estate Market in Millburn, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
22 active listings and 277 off-market properties in Millburn, NJ. Commercial property asks $570/SF to buy and $35.00/SF/Yr to lease.
Market Trends
Millburn, NJ spans 1.3 square miles in Essex County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Millburn, NJ asks $181/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 Millburn, NJ asks $133/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 Millburn, 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 Millburn, NJ asks $235/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 47.6%
- Open space 45.5%
- Commercial 3.4%
- Mixed use 1.2%
Largest Zones share of zoned land by district
Conservation Recreation
Residential 20000 Square Feet
Residential 29000 Square Feet
Residential 14500 Square Feet
Residential 6000 Square Feet
Millburn, NJ zones 5,597 acres across 24 districts. Commercial zoning covers 3.4% of zoned land, residential 47.6% and open space 45.5%. The largest single district is Conservation Recreation at 44.9%. For commercial buyers the practical constraint is that only 3.4% of land carries a commercial or industrial designation.
Conservation Recreation (C)
RZ-601 Zoning Districts. § DRZ-602 Zoning Map. § DRZ-603 Interpretation of zoning district boundaries. § DRZ-604 Prohibited uses. § DRZ-605 Existing uses. § DRZ-606 Zone requirements. § DRZ-606.1 Conservation-Recreation C. § DRZ-606.2 Residential R-3, R-4, R-5, R-6. § DRZ-606.3 Residential R-7. § DRZ-606.4 Residential R-8. § DRZ-606.4.1 Residential Multi-Fam…
Market overview
Demographics & Economy
Millburn, NJ has 7,649 residents in 2,843 households. Density runs 5,701 people per square mile. Median household income here is $220,923 and median gross rent $1,969 a month.
7,649
Population
2,843
Households
2.7
Avg Household Size
41
Median Age
81%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
5,701
Density / Sq Mi
$220,923
Median Household Income
$109,375
Median Earnings
$1,969
Median Rent
$935,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Vauxhall | — | — |
| Union Center | — | — |
| Maplewood | — | — |
| Springfield | — | $20.93 |
Commercial property in Millburn, NJ asks $570/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Millburn?
Commercial property in Millburn, NJ asks an average of $570 per square foot. The 4 most recent recorded sales traded at a median of $638/SF. Multifamily carries the highest asking price at $235/SF.
How much does it cost to lease commercial space in Millburn?
Asking lease rates in Millburn, NJ average $35.00 per square foot per year.
What zoning applies to commercial property in Millburn?
Millburn, NJ zones 5,597 acres across 24 districts, of which 3.4% is commercial and 0% industrial. The largest single district is Conservation Recreation at 44.9% of zoned land. RZ-601 Zoning Districts. § DRZ-602 Zoning Map. § DRZ-603 Interpretation of zoning district boundaries. § DRZ-604 Prohibited uses. § DRZ-605 Existing uses. § DRZ-606 Zone requirements. § DRZ-606.1 Conservation-Recreation C. § DRZ-606.2 Residential R-3, R-4, R-5, R-6. § DRZ-606.3 Residential R-7. § DRZ-606.4 Residential R-8. § DRZ-606.4.1 Residential Multi-Fam… Residential zoning covers 47.6% and open space 45.5%.
Where does Realmo's Millburn market data come from?
Realmo compiles Millburn, NJ figures from 6 recent recorded sales, 10 active sale listings, 12 active lease listings, 277 tracked off-market properties, the current Millburn zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 12 active for-lease listings in Millburn, 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: 5,597 zoned acres across 24 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
