Commercial Real Estate Market in Palisades Park, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
74 active listings and 255 off-market properties in Palisades Park, NJ. Commercial property asks $723/SF to buy and $28.12/SF/Yr to lease.
Market Trends
Palisades Park, NJ spans 1.2 square miles in Bergen County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Palisades Park, 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 Palisades Park, 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 Palisades Park, 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 Palisades Park, NJ asks $399/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
Demographics & Economy
Palisades Park, NJ has 20,292 residents in 7,612 households. Density runs 16,379 people per square mile. Median household income here is $101,295 and median gross rent $1,976 a month.
20,292
Population
7,612
Households
2.7
Avg Household Size
40
Median Age
54%
College-Educated
90%
High-School Grad
1.2 sq mi
ZIP Area
16,379
Density / Sq Mi
$101,295
Median Household Income
$50,817
Median Earnings
$1,976
Median Rent
$704,400
Median Home Value
Tools
Lease vs Buy Breakeven
At $28.12/SF/Yr lease vs $723/SF buy → buying wins if held > 21.7 years.
At a 3.9% 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 |
|---|---|---|
| Leonia | — | $34.33 |
| Ridgefield Park | — | $23.98 |
| Fort Lee | — | $36.14 |
| Ridgefield | — | $26.17 |
Commercial property in Palisades Park, NJ asks $723/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Palisades Park?
Commercial property in Palisades Park, NJ asks an average of $723 per square foot. Multifamily carries the highest asking price at $399/SF.
How much does it cost to lease commercial space in Palisades Park?
Asking lease rates in Palisades Park, NJ average $28.12 per square foot per year.
Is it cheaper to lease or buy commercial space in Palisades Park?
Buying beats leasing in Palisades Park, NJ if the property is held longer than 21.7 years, comparing $28.12/SF/Yr asking rent with $723/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 Palisades Park market data come from?
Realmo compiles Palisades Park, NJ figures from 7 recent recorded sales, 42 active sale listings, 32 active lease listings, 255 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 42 active for-sale and 32 active for-lease listings in Palisades Park, 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
