Commercial Real Estate Market in Princeton, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
91 active listings and 677 off-market properties in Princeton, NJ. Commercial property asks $64/SF to buy and $22.63/SF/Yr to lease.
Market Trends
Princeton, NJ spans 52.3 square miles in Mercer County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Princeton, 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 Princeton, 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 Princeton, 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 Princeton, NJ asks $167/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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 94.4%
- Commercial 1.5%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Residence District
Residence District
Residence District
Residence District
Education And Multifamily Residence
Princeton, NJ zones 11,804 acres across 64 districts. Commercial zoning covers 1.5% of zoned land, residential 94.4%. The largest single district is Residence District at 20.4%. For commercial buyers the practical constraint is that only 1.5% of land carries a commercial or industrial designation.
Residence District (R-1-T)
The intent of this zone is to promote one family residential uses
Market overview
Demographics & Economy
Princeton, NJ has 55,890 residents in 20,561 households. Density runs 1,069 people per square mile. Median household income here is $165,692 and median gross rent $2,103 a month.
55,890
Population
20,561
Households
2.7
Avg Household Size
37
Median Age
82%
College-Educated
98%
High-School Grad
52.3 sq mi
ZIP Area
1,069
Density / Sq Mi
$165,692
Median Household Income
$73,712
Median Earnings
$2,103
Median Rent
$725,426
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rocky Hill | — | — |
| Blawenburg | — | — |
| Plainsboro | $171 (county avg) | — |
| Lawrence Township | — | $15.86 |
Commercial property in Princeton, NJ asks $64/SF. That compares with $171/SF in Plainsboro.
Frequently Asked Questions
What is the average price per square foot for commercial property in Princeton?
Commercial property in Princeton, NJ asks an average of $64 per square foot. The 5 most recent recorded sales traded at a median of $215/SF. Multifamily carries the highest asking price at $167/SF.
How much does it cost to lease commercial space in Princeton?
Asking lease rates in Princeton, NJ average $22.63 per square foot per year.
How does Princeton compare to nearby markets on price?
Princeton, NJ asks $64/SF against $171/SF in Plainsboro.
What zoning applies to commercial property in Princeton?
Princeton, NJ zones 11,804 acres across 64 districts, of which 1.5% is commercial and 0% industrial. The largest single district is Residence District at 20.4% of zoned land. The intent of this zone is to promote one family residential uses Residential zoning covers 94.4% and open space 0%.
Where does Realmo's Princeton market data come from?
Realmo compiles Princeton, NJ figures from 7 recent recorded sales, 25 active sale listings, 66 active lease listings, 677 tracked off-market properties, the current Princeton zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 25 active for-sale and 66 active for-lease listings in Princeton, 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.
- Zoning and land use
- The current municipal zoning release: 11,804 zoned acres across 64 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 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
