Commercial Real Estate Market in Pennington, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
14 active listings and 205 off-market properties in Pennington, NJ.
Market Trends
Pennington, NJ spans 21.8 square miles in Mercer County, New Jersey. Figures below refresh monthly; last updated 31 October 2026.
Office
Across Mercer County, office space asks $166/SF to buy. Office vacancy in Pennington, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Retail vacancy in Pennington, 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 Pennington, 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 Mercer County, multifamily space asks $209/SF to buy. Multifamily vacancy in Pennington, 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 78%
- Commercial 10.7%
- Mixed use 2%
Largest Zones share of zoned land by district
Pennington, NJ zones 627 acres across 14 districts. Commercial zoning covers 10.7% of zoned land, residential 78%. The largest single district is Residence Zone at 40.8%. For commercial buyers the practical constraint is that only 10.7% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Pennington, NJ has 12,955 residents in 5,107 households. Density runs 595 people per square mile. Median household income here is $180,491 and median gross rent $2,106 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Lawrence Township | $199 | $17.25 |
| Princeton | $411 | $25.00 |
| Trenton | $181 | $19.00 |
Frequently Asked Questions
How much does it cost to lease commercial space in Pennington?
What zoning applies to commercial property in Pennington?
Where does Realmo's Pennington market data come from?
Methodology & data sources
- Asking prices and medians
- There are 7 active for-sale and 7 active for-lease listings in Pennington, NJ. Too few for-sale listings state a price per square foot for a sale median; the rent median is based on 3 of the for-lease listings that state a 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: 627 zoned acres across 14 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
