Commercial Real Estate Market in Greencastle, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
27 active listings and 443 off-market properties in Greencastle, PA. Commercial property asks $753/SF to buy and $18.00/SF/Yr to lease.
Market Trends
Greencastle, PA spans 81.8 square miles in Franklin County, Pennsylvania. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Greencastle, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Greencastle, PA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Greencastle, PA 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 vacancy in Greencastle, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 66.3%
- Commercial 18.1%
- Civic 6.2%
- Mixed use 5.5%
- Industrial 3.8%
Largest Zones share of zoned land by district
Residential
General Residential
Highway Commercial
Institutional
Mixed Use
Greencastle, PA zones 1,008 acres across 9 districts. Commercial zoning covers 18.1% of zoned land, residential 66.3% and industrial 3.8%. The largest single district is Residential at 38.6%. For commercial buyers the practical constraint is that only 21.9% of land carries a commercial or industrial designation.
Highway Commercial (HC)
Any permitted use as listed in the (CC-II) Community Commercial-II District subject to the (HC) Highway Commercial lot size requirements of Article IV . (2) Hotels and motels. (3) Shopping centers in accordance with the following: (a) Access. There shall be a minimum of two separate points of ingress and egress and no access points shall be located within 70…
Market overview
Demographics & Economy
Greencastle, PA has 20,199 residents in 8,132 households. Density runs 247 people per square mile. Median household income here is $87,245 and median gross rent $969 a month.
20,199
Population
8,132
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
92%
High-School Grad
81.8 sq mi
ZIP Area
247
Density / Sq Mi
$87,245
Median Household Income
$46,317
Median Earnings
$969
Median Rent
$266,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Shady Grove | — | — |
| Williamson | — | — |
| Upton | — | — |
| State Line | — | — |
Commercial property in Greencastle, PA asks $753/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Greencastle?
Commercial property in Greencastle, PA asks an average of $753 per square foot.
How much does it cost to lease commercial space in Greencastle?
Asking lease rates in Greencastle, PA average $18.00 per square foot per year.
What zoning applies to commercial property in Greencastle?
Greencastle, PA zones 1,008 acres across 9 districts, of which 18.1% is commercial and 3.8% industrial. The largest single district is Residential at 38.6% of zoned land. Residential zoning covers 66.3% and open space 0%.
Where does Realmo's Greencastle market data come from?
Realmo compiles Greencastle, PA figures from 8 recent recorded sales, 21 active sale listings, 6 active lease listings, 443 tracked off-market properties, the current Greencastle 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 6 active for-lease listings in Greencastle, PA. 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: 1,008 zoned acres across 9 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
