Commercial Real Estate Market in Ashland, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
78 active listings and 1,088 off-market properties in Ashland, VA.
Market Trends
Ashland, VA spans 69.3 square miles in Hanover County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Ashland, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Ashland, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Ashland, VA 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 Ashland, VA 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 48.9%
- Industrial 32.5%
- Commercial 13.3%
- Planned_development 2.8%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Limited Industrial
Residential Rural
Residential Limited
Highway Commercial
Residential Restricted
Ashland, VA zones 4,183 acres across 19 districts. Commercial zoning covers 13.3% of zoned land, residential 48.9% and industrial 32.5%. The largest single district is Limited Industrial at 29.7%. For commercial buyers the practical constraint is that only 45.8% of land carries a commercial or industrial designation.
Limited Industrial (M-1)
The intent of this district is to provide sufficient space in appropriate locations for certain types of manufacturing uses, relatively free from offense, in modern landscaped buildings, to make available more attractive locations for these industries, and to provide opportunities for employment closer to places of residence with corresponding reduction of t…
Market overview
Demographics & Economy
Ashland, VA has 17,818 residents in 7,639 households. Density runs 257 people per square mile. Median household income here is $90,049 and median gross rent $1,236 a month.
17,818
Population
7,639
Households
2.3
Avg Household Size
41
Median Age
41%
College-Educated
93%
High-School Grad
69.3 sq mi
ZIP Area
257
Density / Sq Mi
$90,049
Median Household Income
$43,623
Median Earnings
$1,236
Median Rent
$376,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hanover | — | — |
| Doswell | — | — |
| Glen Allen | — | $65.30 |
| Brookside | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Ashland?
Ashland, VA zones 4,183 acres across 19 districts, of which 13.3% is commercial and 32.5% industrial. The largest single district is Limited Industrial at 29.7% of zoned land. The intent of this district is to provide sufficient space in appropriate locations for certain types of manufacturing uses, relatively free from offense, in modern landscaped buildings, to make available more attractive locations for these industries, and to provide opportunities for employment closer to places of residence with corresponding reduction of t… Residential zoning covers 48.9% and open space 0%.
Where does Realmo's Ashland market data come from?
Realmo compiles Ashland, VA figures from 6 recent recorded sales, 32 active sale listings, 46 active lease listings, 1,088 tracked off-market properties, the current Ashland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 32 active for-sale and 46 active for-lease listings in Ashland, VA. 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: 4,183 zoned acres across 19 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
