Commercial Real Estate Market in Nashville, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
898 active listings and 12,595 off-market properties in Nashville, TN. Commercial property asks $430/SF to buy and $28.71/SF/Yr to lease. Office vacancy runs 16.1%, the loosest of the segments tracked here.
Market Trends
Nashville, TN spans 285.7 square miles in Davidson County, Tennessee. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Nashville, TN runs 16.1% in 2025, up from 10.5% in 2019. Down from a 2022 peak of 19.5%.
Vacancy Rate %
Retail
Retail vacancy in Nashville, TN runs 3.7% in 2025, little changed from 4% in 2019. Down from a 2020 peak of 5.4%.
Vacancy Rate %
Industrial
Industrial vacancy in Nashville, TN runs 4.5% in 2025, up from 3% in 2019. Nearly 2.3x the 2020 low of 2%.
Vacancy Rate %
Multifamily
Multifamily vacancy in Nashville, 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
- Residential 46.2%
- Agricultural 38.5%
- Industrial 6.2%
- Commercial 4.2%
- Mixed use 1.1%
- Planned_development 0%
Largest Zones share of zoned land by district
Agricultural District
Single Family 10000 Square Foot Lot
One And Two Family 10000 Square Foot Lot
Single Family 40000 Square Foot Lot
Single Family 20000 Square Foot Lot
Agricultural District (AR2A)
Agricultural Districts. The AG and AR2a districts are intended to implement the natural conservation or interim nonurban land use policies of the general plan. Natural conservation policy is applied to those areas of the county which are unsuitable for urban scale development due to severe environmental constraints. Interim non-urban policy is applied to tho…
Market overview
Demographics & Economy
Nashville, TN has 486,862 residents in 239,457 households. Density runs 1,704 people per square mile. Median household income here is $82,313 and median gross rent $1,545 a month.
486,862
Population
239,457
Households
2
Avg Household Size
34
Median Age
54%
College-Educated
91%
High-School Grad
285.7 sq mi
ZIP Area
1,704
Density / Sq Mi
$82,313
Median Household Income
$49,160
Median Earnings
$1,545
Median Rent
$490,852
Median Home Value
Tools
Lease vs Buy Breakeven
At $28.71/SF/Yr lease vs $430/SF buy → buying wins if held > 3.7 years.
At a 6.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Madison | — | $19.62 |
| Whites Creek | — | — |
| Brentwood | — | — |
| Old Hickory | — | — |
Commercial property in Nashville, TN asks $430/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Nashville?
Commercial property in Nashville, TN asks an average of $430 per square foot. The 7 most recent recorded sales traded at a median of $368/SF, so asking sits 17% above the achieved median.
How much does it cost to lease commercial space in Nashville?
Asking lease rates in Nashville, TN average $28.71 per square foot per year.
What is the office vacancy rate in Nashville?
Office vacancy in Nashville, TN is 16.1% as of 2025, up from 10.5% in 2019. Retail vacancy is 3.7%, below Office vacancy.
Which property type has the lowest vacancy in Nashville?
Retail has the lowest vacancy in Nashville, TN at 3.7%, inside a 2.1–5.4% band since 2019. For comparison: office 16.1%, industrial 4.5% and multifamily 11.3% (South).
Is it cheaper to lease or buy commercial space in Nashville?
Buying beats leasing in Nashville, TN if the property is held longer than 3.7 years, comparing $28.71/SF/Yr asking rent with $430/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Nashville market data come from?
Realmo compiles Nashville, TN figures from 8 recent recorded sales, 543 active sale listings, 355 active lease listings, 12,595 tracked off-market properties, the current Nashville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 543 active for-sale and 355 active for-lease listings in Nashville, 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: 319,060 zoned acres across 90 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
- multifamily 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
