Commercial Real Estate Market in New Albany, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
63 active listings and 545 off-market properties in New Albany, OH. Commercial property asks $461/SF to buy and $25.46/SF/Yr to lease.
Market Trends
New Albany, OH spans 25.7 square miles in Franklin County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in New Albany, OH runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in New Albany, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in New Albany, OH runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in New Albany, OH runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
New Albany, OH has 27,781 residents in 11,577 households. Density runs 1,082 people per square mile. Median household income here is $139,679 and median gross rent $1,808 a month.
27,781
Population
11,577
Households
2.4
Avg Household Size
36
Median Age
65%
College-Educated
97%
High-School Grad
25.7 sq mi
ZIP Area
1,082
Density / Sq Mi
$139,679
Median Household Income
$75,539
Median Earnings
$1,808
Median Rent
$483,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Blacklick | — | — |
| Summit Sta | — | — |
| Westerville | — | $14.94 |
| Johnstown | — | — |
Commercial property in New Albany, OH asks $461/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Albany?
Commercial property in New Albany, OH asks an average of $461 per square foot.
How much does it cost to lease commercial space in New Albany?
Asking lease rates in New Albany, OH average $25.46 per square foot per year.
Where does Realmo's New Albany market data come from?
Realmo compiles New Albany, OH figures from 3 recent recorded sales, 38 active sale listings, 25 active lease listings, 545 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 38 active for-sale and 25 active for-lease listings in New Albany, OH. 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 Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest 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
