Commercial Real Estate Market in Millstone, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
51 active listings and 352 off-market properties in Millstone, NJ. Commercial property asks $284/SF to buy and $18.46/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 31 October 2026.
Office
Across Monmouth County, office space asks $292/SF to buy. Office vacancy in Millstone, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Monmouth County, retail space asks $375/SF to buy. Retail vacancy in Millstone, NJ runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Millstone, 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%.
Multifamily
Across Monmouth County, multifamily space asks $416/SF to buy. Multifamily vacancy in Millstone, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 38.2%
- Open space 30.5%
- Civic 10.6%
- Agricultural 9.4%
- Planned_development 8.9%
- Commercial 2.5%
Largest Zones share of zoned land by district
Millstone, NJ zones 443 acres across 9 districts. Commercial zoning covers 2.5% of zoned land, residential 38.2% and open space 30.5%. The largest single district is Park District at 30.5%. For commercial buyers the practical constraint is that only 2.5% of land carries a commercial or industrial designation.
The purpose of the Park District is to provide standards for both passive and active recreational uses, open space, and conservation areas
Market overview
Tools
Lease vs Buy Breakeven
At $18.46/SF/Yr lease vs $284/SF buy → buying wins if held > 4 years.
At a 6.5% 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 | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Millstone Township | $527 | $22.50 |
| Freehold | $293 | $26.19 |
Commercial property in Millstone, NJ asks $284/SF. The 2 bordering markets run from $293/SF in Freehold to $527/SF in Millstone Township, and the city sits below their $410/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Millstone?
How much does it cost to lease commercial space in Millstone?
Is it cheaper to lease or buy commercial space in Millstone?
How does Millstone compare to nearby markets on price?
What zoning applies to commercial property in Millstone?
Where does Realmo's Millstone market data come from?
Methodology & data sources
- Asking prices and medians
- There are 24 active for-sale and 27 active for-lease listings in Millstone, NJ. The medians are based on 12 of the for-sale and 10 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 443 zoned acres across 9 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
