Commercial Real Estate Market in Franklin, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
37 active listings and 498 off-market properties in Franklin, VA. Commercial property asks $72/SF to buy and $11.00/SF/Yr to lease.
Market Trends
Franklin, VA spans 108.7 square miles in Franklin City County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Franklin, 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 Franklin, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Franklin, 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 Franklin, 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 70%
- Commercial 19.8%
- Industrial 9.6%
Largest Zones share of zoned land by district
One Family Residential
Conservation
General Residential
Limited Residential
General Business
Franklin, VA zones 4,946 acres across 19 districts. Commercial zoning covers 19.8% of zoned land, residential 70% and industrial 9.6%. The largest single district is One Family Residential at 49.5%. For commercial buyers the practical constraint is that only 29.4% of land carries a commercial or industrial designation.
One Family Residential (R-O)
The purpose of residential district, R-O, is to provide for low density, single-family residential development and related uses, including those public and semi-public uses and accessory uses as may be necessary or are normally compatible with residential surroundings.
Market overview
Demographics & Economy
Franklin, VA has 13,258 residents in 6,063 households. Density runs 122 people per square mile. Median household income here is $73,333 and median gross rent $1,006 a month.
13,258
Population
6,063
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
88%
High-School Grad
108.7 sq mi
ZIP Area
122
Density / Sq Mi
$73,333
Median Household Income
$42,841
Median Earnings
$1,006
Median Rent
$222,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Carrsville | — | — |
| Walters | — | — |
| Courtland | — | — |
| Newsoms | — | — |
Commercial property in Franklin, VA asks $72/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Franklin?
Commercial property in Franklin, VA asks an average of $72 per square foot. The 5 most recent recorded sales traded at a median of $61/SF, so asking sits 18% above the achieved median.
How much does it cost to lease commercial space in Franklin?
Asking lease rates in Franklin, VA average $11.00 per square foot per year.
What zoning applies to commercial property in Franklin?
Franklin, VA zones 4,946 acres across 19 districts, of which 19.8% is commercial and 9.6% industrial. The largest single district is One Family Residential at 49.5% of zoned land. The purpose of residential district, R-O, is to provide for low density, single-family residential development and related uses, including those public and semi-public uses and accessory uses as may be necessary or are normally compatible with residential surroundings. Residential zoning covers 70% and open space 0%.
Where does Realmo's Franklin market data come from?
Realmo compiles Franklin, VA figures from 8 recent recorded sales, 30 active sale listings, 7 active lease listings, 498 tracked off-market properties, the current Franklin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 30 active for-sale and 7 active for-lease listings in Franklin, 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: 4,946 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
