Commercial Real Estate Market in Kilmarnock, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
72 active listings and 319 off-market properties in Kilmarnock, VA.
Market Trends
Kilmarnock, VA spans 30.4 square miles in Lancaster County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Kilmarnock, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail space in Kilmarnock, VA asks $84/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Kilmarnock, 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 Kilmarnock, 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
- Commercial 46.9%
- Civic 39.6%
- Planned_development 8%
- Industrial 4.5%
- Residential 1%
Largest Zones share of zoned land by district
Low Density Residential
General Commercial
Agricultural
Planned Unit Development
Limited Commercial
Low Density Residential (R-1)
This district is composed of quiet, low-density, undeveloped residential areas where similar construction is likely to occur. The standards are designed to stabilize and protect the essential character of the area, promote a suitable environment for family life, and prohibit all commercial activities. Development is limited to low concentration, with permitt…
Market overview
Demographics & Economy
Kilmarnock, VA has 2,794 residents in 2,152 households. Density runs 92 people per square mile. Median household income here is $49,733 and median gross rent $815 a month.
2,794
Population
2,152
Households
1.3
Avg Household Size
62
Median Age
35%
College-Educated
89%
High-School Grad
30.4 sq mi
ZIP Area
92
Density / Sq Mi
$49,733
Median Household Income
$43,657
Median Earnings
$815
Median Rent
$347,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Weems | — | — |
| Irvington | — | — |
| White Stone | — | — |
| Merry Point | — | — |
Commercial property in Kilmarnock, VA asks $382/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Kilmarnock?
Commercial property in Kilmarnock, VA asks an average of $382 per square foot. The 3 most recent recorded sales traded at a median of $111/SF, so asking sits 244% above the achieved median. Retail carries the highest asking price at $84/SF.
Where does Realmo's Kilmarnock market data come from?
Realmo compiles Kilmarnock, VA figures from 7 recent recorded sales, 71 active sale listings, 1 active lease listings, 319 tracked off-market properties, the current Kilmarnock zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 71 active for-sale and 1 active for-lease listings in Kilmarnock, 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: 2,183 zoned acres across 8 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, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- 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
