Commercial Real Estate Market in Palermo, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
53 active listings and 273 off-market properties in Palermo, NJ. Commercial property asks $483/SF to buy and $18.40/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Palermo, NJ asks $268/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 Palermo, NJ asks $341/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 Palermo, 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 Palermo, NJ asks $332/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
Market overview
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Strathmere | — | — |
| Tuckahoe | — | — |
| Ocean City | — | $37.15 |
| Sea Isle City | — | — |
Commercial property in Palermo, NJ asks $483/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Palermo?
Commercial property in Palermo, NJ asks an average of $483 per square foot. The 3 most recent recorded sales traded at a median of $2,450/SF. Retail carries the highest asking price at $341/SF.
How much does it cost to lease commercial space in Palermo?
Asking lease rates in Palermo, NJ average $18.40 per square foot per year.
Where does Realmo's Palermo market data come from?
Realmo compiles Palermo, NJ figures from 8 recent recorded sales, 33 active sale listings, 20 active lease listings, 273 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 33 active for-sale and 20 active for-lease listings in Palermo, 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.
- 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
