Commercial Real Estate Market in Nashville, TN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
587 active listings and 12,593 off-market properties in Nashville, TN. Commercial property asks $354/SF to buy and $27.38/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 October 2026.
Office
Office space in Nashville, TN has a median asking sale price of $591/SF. Vacancy runs 16.1% in 2025, up from 10.5% in 2019. Down from a 2022 peak of 19.5%.
Retail
Retail space in Nashville, TN has a median asking sale price of $582/SF. Vacancy runs 3.7% in 2025, little changed from 4% in 2019. Down from a 2020 peak of 5.4%.
Industrial
Industrial space in Nashville, TN has a median asking sale price of $256/SF (based on 8 listings). Vacancy runs 4.5% in 2025, up from 3% in 2019. Nearly 2.3x the 2020 low of 2%.
Multifamily
Multifamily space in Nashville, TN has a median asking sale price of $309/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
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 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.
Tools
Lease vs Buy Breakeven
At $27.38/SF/Yr lease vs $354/SF buy → buying wins if held > 2.4 years.
At a 7.7% 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.
Frequently Asked Questions
What is the median price per square foot for commercial property in Nashville?
How much does it cost to lease commercial space in Nashville?
What is the office vacancy rate in Nashville?
Which property type has the lowest vacancy in Nashville?
Is it cheaper to lease or buy commercial space in Nashville?
Where does Realmo's Nashville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 230 active for-sale and 357 active for-lease listings in Nashville, TN. The medians are based on 100 of the for-sale and 27 of the for-lease listings, those that state a price or rent per square foot. 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.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
