Commercial Real Estate Market in Marion, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
12 active listings and 538 off-market properties in Marion, VA.
Market Trends
Marion, VA spans 119.7 square miles in Smyth County, Virginia. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Marion, VA has a median asking sale price of $160/SF (based on 3 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Marion, VA has a median asking sale price of $160/SF (based on 3 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Marion, 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 Marion, 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 59.4%
- Open space 12.7%
- Mixed use 10.6%
- Industrial 8.6%
- Commercial 1%
- Special 0.7%
Largest Zones share of zoned land by district
Marion, VA zones 2,629 acres across 12 districts. Commercial zoning covers 1% of zoned land, residential 59.4%, open space 12.7% and industrial 8.6%. The largest single district is Residential Single And Two Family at 39.8%. For commercial buyers the practical constraint is that only 9.6% of land carries a commercial or industrial designation.
The purpose of this district is to provide areas for the development of moderately higher-density residential uses and structures in moderately spacious surroundings
Market overview
Demographics & Economy
Marion, VA has 14,446 residents in 6,929 households. Density runs 121 people per square mile. Median household income here is $42,076 and median gross rent $686 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Marion?
What zoning applies to commercial property in Marion?
Where does Realmo's Marion market data come from?
Methodology & data sources
- Asking prices and medians
- There are 8 active for-sale and 4 active for-lease listings in Marion, VA. The sale median is based on 8 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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: 2,629 zoned acres across 12 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, 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 October 2026 · How Realmo checks market page data · Report a data issue
