Commercial Real Estate Market in Gallup, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
52 active listings and 1,203 off-market properties in Gallup, NM. Commercial property asks $140/SF to buy and $9.76/SF/Yr to lease.
Market Trends
Gallup, NM spans 845.0 square miles in McKinley County, New Mexico. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Gallup, NM runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Gallup, NM runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Gallup, NM runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Gallup, NM runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 60.5%
- Residential 18.4%
- Commercial 13.9%
- Industrial 5%
- Mixed use 2.4%
Largest Zones share of zoned land by district
Rural Holding Zone
Heavy Commercial
Single Family Residential Type B
Industrial
Single Family Residential Type C
Single Family Residential Type B (SFR-B)
The purpose of the Single-Family Residential (SFR) district is to promote and preserve safe, attractive single-family residential neighborhoods
Market overview
Demographics & Economy
Gallup, NM has 37,202 residents in 12,907 households. Density runs 44 people per square mile. Median household income here is $50,671 and median gross rent $799 a month.
37,202
Population
12,907
Households
2.9
Avg Household Size
36
Median Age
16%
College-Educated
84%
High-School Grad
845 sq mi
ZIP Area
44
Density / Sq Mi
$50,671
Median Household Income
$33,308
Median Earnings
$799
Median Rent
$100,555
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Gallup?
Commercial property in Gallup, NM asks an average of $140 per square foot.
How much does it cost to lease commercial space in Gallup?
Asking lease rates in Gallup, NM average $9.76 per square foot per year.
Where does Realmo's Gallup market data come from?
Realmo compiles Gallup, NM figures from 43 active sale listings, 9 active lease listings, 1,203 tracked off-market properties, the current Gallup zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 43 active for-sale and 9 active for-lease listings in Gallup, NM. 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: 17,795 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 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West 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 · How Realmo checks market page data · Report a data issue
