Commercial Real Estate Market in Short Hills, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
20 active listings and 277 off-market properties in Short Hills, NJ. Commercial property asks $548/SF to buy and $35.00/SF/Yr to lease.
Market Trends
Short Hills, NJ spans 8.0 square miles in Essex County, New Jersey. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Short Hills, NJ asks $181/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 Short Hills, NJ asks $133/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 Short Hills, 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 Short Hills, NJ asks $264/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
Short Hills, NJ has 14,061 residents in 4,433 households. Density runs 1,759 people per square mile. Median household income here is $250,001 and median gross rent $3,363 a month.
14,061
Population
4,433
Households
3.2
Avg Household Size
41
Median Age
90%
College-Educated
99%
High-School Grad
8 sq mi
ZIP Area
1,759
Density / Sq Mi
$250,001
Median Household Income
$165,824
Median Earnings
$3,363
Median Rent
$1,627,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Millburn | — | — |
| Livingston | — | — |
| Maplewood | — | — |
| Summit | — | $28.17 |
Commercial property in Short Hills, NJ asks $548/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Short Hills?
Commercial property in Short Hills, NJ asks an average of $548 per square foot. The 4 most recent recorded sales traded at a median of $638/SF. Multifamily carries the highest asking price at $264/SF.
How much does it cost to lease commercial space in Short Hills?
Asking lease rates in Short Hills, NJ average $35.00 per square foot per year.
Where does Realmo's Short Hills market data come from?
Realmo compiles Short Hills, NJ figures from 6 recent recorded sales, 9 active sale listings, 11 active lease listings, 277 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 11 active for-lease listings in Short Hills, 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 30 September 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 30 September 2026 · report a data issue
