Commercial Real Estate Market in Portales, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
35 active listings and 523 off-market properties in Portales, NM.
Market Trends
Portales, NM spans 632.1 square miles in Roosevelt County, New Mexico. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Portales, NM runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Portales, NM runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Portales, 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 Portales, 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
- Residential 73.1%
- Commercial 11.8%
- Industrial 8.7%
- Planned_development 2.1%
- Open space 0.6%
- Mixed use 0.5%
- Civic 0.1%
Largest Zones share of zoned land by district
Single Family Residential
Multifamily Residential
General Commercial
Light Manufacturing
Rodeo Arena
Portales, NM zones 5,022 acres across 18 districts. Commercial zoning covers 11.8% of zoned land, residential 73.1%, open space 0.6% and industrial 8.7%. The largest single district is Single Family Residential at 57.4%. For commercial buyers the practical constraint is that only 20.5% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
This zone is intended to provide for the development of single family homes when all public utilities are immediately available or can be readily obtained. It is also intended in this zone that a low density of population be maintained.
Market overview
Demographics & Economy
Portales, NM has 18,027 residents in 7,985 households. Density runs 29 people per square mile. Median household income here is $52,420 and median gross rent $865 a month.
18,027
Population
7,985
Households
2.3
Avg Household Size
31
Median Age
22%
College-Educated
86%
High-School Grad
632.1 sq mi
ZIP Area
29
Density / Sq Mi
$52,420
Median Household Income
$29,958
Median Earnings
$865
Median Rent
$136,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lingo | — | — |
| Causey | — | — |
| Garrison | — | — |
| Goodland | — | — |
Commercial property in Portales, NM asks $202/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Portales?
Commercial property in Portales, NM asks an average of $202 per square foot.
What zoning applies to commercial property in Portales?
Portales, NM zones 5,022 acres across 18 districts, of which 11.8% is commercial and 8.7% industrial. The largest single district is Single Family Residential at 57.4% of zoned land. This zone is intended to provide for the development of single family homes when all public utilities are immediately available or can be readily obtained. It is also intended in this zone that a low density of population be maintained. Residential zoning covers 73.1% and open space 0.6%.
Where does Realmo's Portales market data come from?
Realmo compiles Portales, NM figures from 35 active sale listings, 523 tracked off-market properties, the current Portales zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 35 active for-sale and 0 active for-lease listings in Portales, 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: 5,022 zoned acres across 18 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 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 31 August 2026 · report a data issue
