Commercial Real Estate Market in Germantown, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,812 active listings and 13,713 off-market properties in Germantown, TN. Commercial property asks $4/SF to buy and $16.06/SF/Yr to lease.
Market Trends
Germantown, TN spans 20.6 square miles in Shelby County, Tennessee. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Germantown, TN asks $17.25/SF/Yr to lease. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in South region
Retail
Retail vacancy in Germantown, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Germantown, TN runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Germantown, TN asks $97/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 85.2%
- Mixed use 6%
- Agricultural 4.9%
- Commercial 3.2%
- Civic 0.2%
Largest Zones share of zoned land by district
Residential
Residential Estate
Single Family Residential
Residential Estate
Urban Center
Germantown, TN zones 12,743 acres across 21 districts. Commercial zoning covers 3.2% of zoned land, residential 85.2%. The largest single district is Residential at 52.8%. For commercial buyers the practical constraint is that only 3.2% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Germantown, TN has 42,571 residents in 16,642 households. Density runs 2,070 people per square mile. Median household income here is $147,392 and median gross rent $1,969 a month.
42,571
Population
16,642
Households
2.6
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
20.6 sq mi
ZIP Area
2,070
Density / Sq Mi
$147,392
Median Household Income
$82,449
Median Earnings
$1,969
Median Rent
$451,383
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cordova | — | $15.95 |
| Olive Branch | — | $22.75 |
| Memphis | — | $16.06 |
| Lakeland | — | — |
Commercial property in Germantown, TN asks $4/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Germantown?
Commercial property in Germantown, TN asks an average of $4 per square foot. The 8 most recent recorded sales traded at a median of $95/SF. Multifamily carries the highest asking price at $97/SF.
How much does it cost to lease commercial space in Germantown?
Asking lease rates in Germantown, TN average $16.06 per square foot per year. Office asks $17.25/SF/Yr as of Q2 26, down from $20.63/SF/Yr in Q1 26.
What zoning applies to commercial property in Germantown?
Germantown, TN zones 12,743 acres across 21 districts, of which 3.2% is commercial and 0% industrial. The largest single district is Residential at 52.8% of zoned land. Residential zoning covers 85.2% and open space 0%.
Where does Realmo's Germantown market data come from?
Realmo compiles Germantown, TN figures from 8 recent recorded sales, 1,223 active sale listings, 589 active lease listings, 13,713 tracked off-market properties, the current Germantown zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1,223 active for-sale and 589 active for-lease listings in Germantown, TN. 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: 12,743 zoned acres across 21 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 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South 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 30 September 2026 · report a data issue
