Commercial Real Estate Market in Madison, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
24 active listings and 155 off-market properties in Madison, VA. Commercial property asks $344/SF to buy and $12.86/SF/Yr to lease.
Market Trends
Madison, VA spans 125.4 square miles in Madison County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Madison, 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 Madison, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Madison, 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 Madison, 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 65.3%
- Commercial 27.4%
- Agricultural 7.4%
Largest Zones share of zoned land by district
Residential Limited
Business General
Agricultural
Business General And Residential Limited
Residential General
Madison, VA zones 152 acres across 5 districts. Commercial zoning covers 27.4% of zoned land, residential 65.3%. The largest single district is Residential Limited at 64.9%. For commercial buyers the practical constraint is that only 27.4% of land carries a commercial or industrial designation.
Business General (B1)
This district is established for the purpose of accommodating general commercial and business uses to which the public requires direct and frequent access
Market overview
Demographics & Economy
Madison, VA has 5,807 residents in 2,641 households. Density runs 46 people per square mile. Median household income here is $71,154 and median gross rent $1,074 a month.
5,807
Population
2,641
Households
2.2
Avg Household Size
48
Median Age
29%
College-Educated
89%
High-School Grad
125.4 sq mi
ZIP Area
46
Density / Sq Mi
$71,154
Median Household Income
$34,277
Median Earnings
$1,074
Median Rent
$366,564
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Aroda | — | — |
| Radiant | — | — |
| Pratts | — | — |
| Oakpark | — | — |
Commercial property in Madison, VA asks $344/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Madison?
Commercial property in Madison, VA asks an average of $344 per square foot.
How much does it cost to lease commercial space in Madison?
Asking lease rates in Madison, VA average $12.86 per square foot per year.
What zoning applies to commercial property in Madison?
Madison, VA zones 152 acres across 5 districts, of which 27.4% is commercial and 0% industrial. The largest single district is Residential Limited at 64.9% of zoned land. Residential zoning covers 65.3% and open space 0%.
Where does Realmo's Madison market data come from?
Realmo compiles Madison, VA figures from 2 recent recorded sales, 21 active sale listings, 3 active lease listings, 155 tracked off-market properties, the current Madison zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 3 active for-lease listings in Madison, 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: 152 zoned acres across 5 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
