Commercial Real Estate Market in Morristown, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
263 active listings and 1,802 off-market properties in Morristown, TN. Commercial property asks $88/SF to buy and $17.40/SF/Yr to lease.
Market Trends
Morristown, TN spans 101.9 square miles in Hamblen County, Tennessee. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Morristown, 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 Morristown, TN runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Morristown, 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 Morristown, TN runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 59.3%
- Industrial 26.8%
- Residential 10.7%
- Mixed use 1.5%
- Planned_development 1.1%
Largest Zones share of zoned land by district
Medium Density Residential District
Heavy Industrial District
Single Family Residential
Intermediate Business District
Planned Residential District
Morristown, TN zones 18,146 acres across 18 districts. Commercial zoning covers 59.3% of zoned land, residential 10.7% and industrial 26.8%. The largest single district is Medium Density Residential District at 28.1%. For commercial buyers the practical constraint is that only 86.1% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Morristown, TN has 52,160 residents in 22,779 households. Density runs 512 people per square mile. Median household income here is $49,942 and median gross rent $843 a month.
52,160
Population
22,779
Households
2.3
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
101.9 sq mi
ZIP Area
512
Density / Sq Mi
$49,942
Median Household Income
$34,981
Median Earnings
$843
Median Rent
$180,516
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lowland | — | — |
| White Pine | — | — |
| Bybee | — | — |
| Russellville | — | — |
Commercial property in Morristown, TN asks $88/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Morristown?
Commercial property in Morristown, TN asks an average of $88 per square foot. The 6 most recent recorded sales traded at a median of $121/SF.
How much does it cost to lease commercial space in Morristown?
Asking lease rates in Morristown, TN average $17.40 per square foot per year.
What zoning applies to commercial property in Morristown?
Morristown, TN zones 18,146 acres across 18 districts, of which 59.3% is commercial and 26.8% industrial. The largest single district is Medium Density Residential District at 28.1% of zoned land. Residential zoning covers 10.7% and open space 0%.
Where does Realmo's Morristown market data come from?
Realmo compiles Morristown, TN figures from 7 recent recorded sales, 244 active sale listings, 19 active lease listings, 1,802 tracked off-market properties, the current Morristown zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 244 active for-sale and 19 active for-lease listings in Morristown, 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: 18,146 zoned acres across 18 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
