Commercial Real Estate Market in Tennessee
Tennessee has 3,658 active for-sale listings and 2,259 active for-lease listings. Statewide, the median asking price is $142/SF and the median asking rent is $18.00/SF/Yr as of November 2026. Realmo tracks 81 city markets here; among the 35 with enough listings to rank, median asking prices range from $64/SF in Brownsville to $358/SF in Nashville.
- Median asking price
- $142/SF
- Median asking rent
- $18.00/SF/Yr
- For-sale listings
- 3,658
- For-lease listings
- 2,259
- City markets
- 81
Highest- and Lowest-Priced Markets
Asking prices vary across Tennessee: the median in Nashville is $358/SF, 5.6x the $64/SF median in Brownsville. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Nashville at $358/SF, Gatlinburg at $344/SF and Pigeon Forge at $300/SF. The lowest median asking prices are in Brownsville at $64/SF, Tazewell at $70/SF and Ripley at $72/SF. 17 of 35 ranked markets have median asking prices above the statewide $142/SF.
Asking Rents
The highest median asking rents are in Nashville at $29.25/SF/Yr, Clarksville at $24.00/SF/Yr and Chattanooga at $20.50/SF/Yr. The lowest median asking rents are in Kingsport at $14.10/SF/Yr, Bristol at $14.36/SF/Yr and Memphis at $15.74/SF/Yr. 3 of 10 ranked markets have median asking rents above the statewide $18.00/SF/Yr.
Tennessee vs. Neighboring States
The median asking price in Tennessee is $142/SF, above the $122/SF median of its 8 neighboring states. By median asking price, the state ranks 4th of 9 in the group; Virginia is highest at $248/SF and Mississippi lowest at $98/SF. The median asking rent is $18.00/SF/Yr, compared with $16.95/SF/Yr in Georgia, $19.50/SF/Yr in Virginia and $14.18/SF/Yr in Missouri next door. The statewide median asking price is below the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Tennessee | $142 | $18.00 | 3,658 | 2,259 |
| Alabama | $112 | $15.97 | 2,990 | 1,483 |
| Arkansas | $122 | $19.00 | 5,002 | 2,405 |
| Georgia | $169 | $16.95 | 6,822 | 4,167 |
| Kentucky | $123 | $16.12 | 3,076 | 2,020 |
| Mississippi | $98 | $16.00 | 2,167 | 1,220 |
| Missouri | $112 | $14.18 | 5,960 | 2,725 |
| North Carolina | $179 | $19.87 | 5,128 | 3,501 |
| Virginia | $248 | $19.50 | 4,801 | 4,054 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Tennessee
Realmo tracks 81 city markets in Tennessee; the 40 with the most active listings are listed below. Memphis leads with 1,090 active listings, followed by Nashville and Knoxville.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Memphis | 1,090 | $100 | $15.74 |
| Nashville | 523 | $358 | $29.25 |
| Knoxville | 339 | $202 | $18.00 |
| Chattanooga | 312 | $168 | $20.50 |
| Kingsport | 187 | $115 | $14.10 |
| Jackson | 175 | $100 | $16.55 |
| Clarksville | 165 | $145 | $24.00 |
| Johnson City | 136 | $143 | $17.50 |
| Cleveland | 93 | $178 | $17.69 |
| Franklin | 93 | — | — |
| Murfreesboro | 86 | $254 | — |
| Pigeon Forge | 82 | $300 | — |
| Cookeville | 67 | $190 | — |
| Crossville | 64 | $153 | — |
| Bristol | 63 | $126 | $14.36 |
| Morristown | 54 | $140 | — |
| Greeneville | 52 | $141 | — |
| Maryville | 51 | $220 | — |
| Lebanon | 50 | — | — |
| Oak Ridge | 47 | — | — |
| Dyersburg | 38 | $101 | — |
| Gallatin | 35 | $189 | — |
| Mount Juliet | 34 | — | — |
| Ripley | 33 | $72 | — |
| Rogersville | 33 | $116 | — |
| Brownsville | 31 | $64 | — |
| Madison | 31 | $237 | — |
| Newport | 30 | $169 | — |
| Elizabethton | 29 | $101 | — |
| Hendersonville | 29 | — | — |
| Tullahoma | 24 | $152 | — |
| Athens | 23 | — | — |
| Pulaski | 23 | — | — |
| Smyrna | 23 | — | — |
| Gatlinburg | 21 | $344 | — |
| Goodlettsville | 21 | — | — |
| Paris | 21 | $109 | — |
| Shelbyville | 21 | — | — |
| Lexington | 20 | $84 | — |
| Jonesborough | 18 | $195 | — |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Tennessee?
How much does it cost to lease commercial space in Tennessee?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Tennessee compare with neighboring states?
Which markets in Tennessee have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 3,658 active for-sale and 2,259 active for-lease listings across Tennessee in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 1,824 for-sale and 450 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
