Commercial Real Estate Market in Monterey, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
178 active listings and 188 off-market properties in Monterey, TN.
Market Trends
Monterey, TN spans 169.3 square miles in Putnam County, Tennessee. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Monterey, TN asks $264/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Monterey, TN asks $162/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Monterey, 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 Monterey, TN asks $229/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
- Civic 84.5%
- Commercial 9.4%
- Industrial 6.1%
Largest Zones share of zoned land by district
Low Density Residential District
Rural Residential District
Light Industrial District
High Density Residential District
General Commercial District
Rural Residential District (RR)
The purpose of R-R Districts is to provide areas for agriculture and agriculturally oriented uses and structures in a low density environment, having good access to schools, public water and sewer, and other community services, but well separated from other incompatible uses and activities
Market overview
Demographics & Economy
Monterey, TN has 8,816 residents in 3,827 households. Density runs 52 people per square mile. Median household income here is $52,043 and median gross rent $800 a month.
8,816
Population
3,827
Households
2.3
Avg Household Size
45
Median Age
12%
College-Educated
78%
High-School Grad
169.3 sq mi
ZIP Area
52
Density / Sq Mi
$52,043
Median Household Income
$34,167
Median Earnings
$800
Median Rent
$175,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Crawford | — | — |
| Rickman | — | — |
| Pleasant Hill | — | — |
| Allred | — | — |
Commercial property in Monterey, TN asks $29/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Monterey?
Commercial property in Monterey, TN asks an average of $29 per square foot. The 6 most recent recorded sales traded at a median of $44/SF. Office carries the highest asking price at $264/SF.
Where does Realmo's Monterey market data come from?
Realmo compiles Monterey, TN figures from 7 recent recorded sales, 178 active sale listings, 188 tracked off-market properties, the current Monterey zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 178 active for-sale and 0 active for-lease listings in Monterey, 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: 2,193 zoned acres across 6 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 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 August 2026 · report a data issue
