Commercial Real Estate Market in Portales, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
14 active listings and 522 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 October 2026.
Office
Office vacancy in Portales, NM runs 20.8% across the West region in 2025, up from 11% in 2019.
Retail
Retail vacancy in Portales, NM runs 5.8% across the West region in 2025, down from 7% in 2020.
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%.
Multifamily
Multifamily vacancy in Portales, NM runs 8.6% across the West region in 2025, up from 7% in 2022.
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
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.
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Portales?
What zoning applies to commercial property in Portales?
Where does Realmo's Portales market data come from?
Methodology & data sources
- Asking prices and medians
- There are 14 active for-sale and 0 active for-lease listings in Portales, NM. The sale median is based on 6 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
