Commercial Real Estate Market in Parsippany, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
82 active listings and 481 off-market properties in Parsippany, NJ. Commercial property asks $243/SF to buy (based on 4 listings) and $20.00/SF/Yr to lease.
Market Trends
Parsippany, NJ spans 13.8 square miles in Morris County, New Jersey. Figures below refresh monthly; last updated 31 October 2026.
Office
Across Morris County, office space asks $200/SF to buy. Office vacancy in Parsippany, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Across Morris County, retail space asks $325/SF to buy. Retail vacancy in Parsippany, 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 Parsippany, 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 Morris County, multifamily space asks $288/SF to buy. Multifamily vacancy in Parsippany, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Market overview
Demographics & Economy
Parsippany, NJ has 30,228 residents in 12,497 households. Density runs 2,186 people per square mile. Median household income here is $107,955 and median gross rent $1,725 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Parsippany?
How much does it cost to lease commercial space in Parsippany?
Where does Realmo's Parsippany market data come from?
Methodology & data sources
- Asking prices and medians
- There are 12 active for-sale and 70 active for-lease listings in Parsippany, NJ. The medians are based on 4 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.
- 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
