Commercial Real Estate Market in Westfield, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
41 active listings and 411 off-market properties in Westfield, NJ. Commercial property asks $317/SF to buy and $29.59/SF/Yr to lease.
Market Trends
Westfield, NJ spans 6.7 square miles in Union County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Westfield, 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 Westfield, 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 Westfield, 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 Westfield, 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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 93.5%
- Commercial 6.1%
- Industrial 0.4%
Largest Zones share of zoned land by district
Single Family Residence District
Single Family Residence District
Single Family Residence District
Single Family Residence District
Single Family Residence District
Westfield, NJ zones 4,317 acres across 30 districts. Commercial zoning covers 6.1% of zoned land, residential 93.5% and industrial 0.4%. The largest single district is Single Family Residence District at 19.7%. For commercial buyers the practical constraint is that only 6.5% of land carries a commercial or industrial designation.
Single Family Residence District (RS-6)
Residence District. § 11.05 RS-16 Single Family Residence District. § 11.06 RS-12 Single Family Residence District. § 11.07 RS-10 Single Family Residence District. § 11.08 RS-8 Single Family Residence District. § 11.09 RS-6 Single Family Residence District. § 11.10 RM-12 Single Family and Two Family Residence District. § 11.11 RM-8 Single Family and Two Fami…
Market overview
Demographics & Economy
Westfield, NJ has 31,056 residents in 11,093 households. Density runs 4,609 people per square mile. Median household income here is $212,700 and median gross rent $2,211 a month.
31,056
Population
11,093
Households
2.8
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
4,609
Density / Sq Mi
$212,700
Median Household Income
$106,123
Median Earnings
$2,211
Median Rent
$930,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mountainside | — | $17.03 |
| Garwood | — | — |
| Scotch Plains | — | — |
| Fanwood | — | — |
Commercial property in Westfield, NJ asks $317/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Westfield?
Commercial property in Westfield, NJ asks an average of $317 per square foot. The 7 most recent recorded sales traded at a median of $377/SF. Retail carries the highest asking price at $403/SF.
How much does it cost to lease commercial space in Westfield?
Asking lease rates in Westfield, NJ average $29.59 per square foot per year.
What zoning applies to commercial property in Westfield?
Westfield, NJ zones 4,317 acres across 30 districts, of which 6.1% is commercial and 0.4% industrial. The largest single district is Single Family Residence District at 19.7% of zoned land. Residential zoning covers 93.5% and open space 0%.
Where does Realmo's Westfield market data come from?
Realmo compiles Westfield, NJ figures from 7 recent recorded sales, 21 active sale listings, 20 active lease listings, 411 tracked off-market properties, the current Westfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 20 active for-lease listings in Westfield, 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: 4,317 zoned acres across 30 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
