Commercial Real Estate Market in Springfield, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
31 active listings and 304 off-market properties in Springfield, NJ. Commercial property asks $174/SF to buy and $20.93/SF/Yr to lease.
Market Trends
Springfield, NJ spans 5.2 square miles in Union County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Springfield, NJ asks $283/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 Springfield, NJ asks $403/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 Springfield, 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 Springfield, NJ asks $288/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
Springfield, NJ has 17,200 residents in 6,844 households. Density runs 3,323 people per square mile. Median household income here is $146,059 and median gross rent $2,135 a month.
17,200
Population
6,844
Households
2.5
Avg Household Size
43
Median Age
64%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
3,323
Density / Sq Mi
$146,059
Median Household Income
$70,781
Median Earnings
$2,135
Median Rent
$590,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Union Center | — | — |
| Millburn | — | — |
| Vauxhall | — | — |
| Summit | — | $28.17 |
Commercial property in Springfield, NJ asks $174/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Springfield?
Commercial property in Springfield, NJ asks an average of $174 per square foot. The 5 most recent recorded sales traded at a median of $291/SF. Retail carries the highest asking price at $403/SF.
How much does it cost to lease commercial space in Springfield?
Asking lease rates in Springfield, NJ average $20.93 per square foot per year.
Where does Realmo's Springfield market data come from?
Realmo compiles Springfield, NJ figures from 6 recent recorded sales, 13 active sale listings, 18 active lease listings, 304 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 13 active for-sale and 18 active for-lease listings in Springfield, 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
