Commercial Real Estate Market in Ashland, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
48 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 October 2026.
Office
Office vacancy in Ashland, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Ashland, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
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%.
Multifamily
Multifamily vacancy in Ashland, VA 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 48.9%
- Industrial 32.5%
- Commercial 13.3%
- Planned_development 2.8%
- Mixed use 0.1%
Largest Zones share of zoned land by district
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.
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.
Tools
Frequently Asked Questions
How much does it cost to lease commercial space in Ashland?
What zoning applies to commercial property in Ashland?
Where does Realmo's Ashland market data come from?
Methodology & data sources
- Asking prices and medians
- There are 11 active for-sale and 37 active for-lease listings in Ashland, VA. Too few for-sale listings state a price per square foot for a sale median; the rent median is based on 3 of the for-lease listings that state a 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: 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
