Commercial Real Estate Market in Norton, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
28 active listings and 53 off-market properties in Norton, VA.
Market Trends
Norton, VA spans 64.5 square miles in Norton County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Norton, 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 Norton, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Norton, 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 Norton, 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 47.6%
- Open space 22.6%
- Commercial 19.7%
- Industrial 10.1%
Largest Zones share of zoned land by district
B Residence Zone
A Residence Zone
Conservation And Recreation Zone
General Business Zone
Light Industrial Zone
Norton, VA zones 4,879 acres across 11 districts. Commercial zoning covers 19.7% of zoned land, residential 47.6%, open space 22.6% and industrial 10.1%. The largest single district is B Residence Zone at 23.8%. For commercial buyers the practical constraint is that only 29.8% of land carries a commercial or industrial designation.
B Residence Zone (R-B)
The B residence zone is established to provide for the mixture of one-family dwellings and manufactured homes on single lots at a density not to exceed approximately 8 dwelling units per acre and to allow attached, single-family dwellings and multi-family dwellings at a density not to exceed approximately 17 dwelling units per acre
Market overview
Demographics & Economy
Norton, VA has 5,730 residents in 2,690 households. Density runs 89 people per square mile. Median household income here is $39,797 and median gross rent $678 a month.
5,730
Population
2,690
Households
2.1
Avg Household Size
42
Median Age
13%
College-Educated
84%
High-School Grad
64.5 sq mi
ZIP Area
89
Density / Sq Mi
$39,797
Median Household Income
$34,863
Median Earnings
$678
Median Rent
$105,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Esserville | — | — |
| Wise | — | — |
| East Stone Gap | — | — |
| Appalachia | — | — |
Commercial property in Norton, VA asks $19/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Norton?
Commercial property in Norton, VA asks an average of $19 per square foot.
What zoning applies to commercial property in Norton?
Norton, VA zones 4,879 acres across 11 districts, of which 19.7% is commercial and 10.1% industrial. The largest single district is B Residence Zone at 23.8% of zoned land. The B residence zone is established to provide for the mixture of one-family dwellings and manufactured homes on single lots at a density not to exceed approximately 8 dwelling units per acre and to allow attached, single-family dwellings and multi-family dwellings at a density not to exceed approximately 17 dwelling units per acre Residential zoning covers 47.6% and open space 22.6%.
Where does Realmo's Norton market data come from?
Realmo compiles Norton, VA figures from 2 recent recorded sales, 26 active sale listings, 2 active lease listings, 53 tracked off-market properties, the current Norton zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 26 active for-sale and 2 active for-lease listings in Norton, 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: 4,879 zoned acres across 11 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
