Commercial Real Estate Market in Hermitage, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
16 active listings and 363 off-market properties in Hermitage, TN. Commercial property asks $966/SF to buy and $39.87/SF/Yr to lease.
Market Trends
Hermitage, TN spans 27.8 square miles in Davidson County, Tennessee. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hermitage, TN runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Hermitage, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Hermitage, 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 vacancy in Hermitage, TN runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Hermitage, TN has 39,326 residents in 19,235 households. Density runs 1,414 people per square mile. Median household income here is $74,555 and median gross rent $1,438 a month.
39,326
Population
19,235
Households
2
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
27.8 sq mi
ZIP Area
1,414
Density / Sq Mi
$74,555
Median Household Income
$50,286
Median Earnings
$1,438
Median Rent
$348,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mount Juliet | — | — |
| Old Hickory | — | — |
| Madison | — | $19.62 |
| Hendersonville | — | — |
Commercial property in Hermitage, TN asks $966/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hermitage?
Commercial property in Hermitage, TN asks an average of $966 per square foot. The 7 most recent recorded sales traded at a median of $309/SF, so asking sits 213% above the achieved median.
How much does it cost to lease commercial space in Hermitage?
Asking lease rates in Hermitage, TN average $39.87 per square foot per year.
Where does Realmo's Hermitage market data come from?
Realmo compiles Hermitage, TN figures from 7 recent recorded sales, 14 active sale listings, 2 active lease listings, 363 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 14 active for-sale and 2 active for-lease listings in Hermitage, 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.
- 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 South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- 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
