Commercial Real Estate Market in Hermitage, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
10 active listings and 363 off-market properties in Hermitage, TN.
Market Trends
Hermitage, TN spans 27.8 square miles in Davidson County, Tennessee. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hermitage, TN runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Hermitage, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
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%.
Multifamily
Multifamily space in Hermitage, TN has a median asking sale price of $180/SF (based on 3 listings). Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Mount Juliet | $493 | $23.96 |
| Hendersonville | $265 | $24.00 |
Commercial property in Hermitage, TN asks $369/SF. The 2 bordering markets run from $265/SF in Hendersonville to $493/SF in Mount Juliet, and the city sits below their $379/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hermitage?
How does Hermitage compare to nearby markets on price?
Where does Realmo's Hermitage market data come from?
Methodology & data sources
- Asking prices and medians
- There are 7 active for-sale and 3 active for-lease listings in Hermitage, TN. The sale median is based on 6 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 31 October 2026 · How Realmo checks market page data · Report a data issue
