Commercial Real Estate Market in Pennington Gap, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
11 active listings and 202 off-market properties in Pennington Gap, VA.
Market Trends
Pennington Gap, VA spans 53.2 square miles in Lee County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Pennington Gap, 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 Pennington Gap, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Pennington Gap, 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 Pennington Gap, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Pennington Gap, VA has 6,463 residents in 2,560 households. Density runs 122 people per square mile. Median household income here is $33,102 and median gross rent $764 a month.
6,463
Population
2,560
Households
2.5
Avg Household Size
40
Median Age
8%
College-Educated
73%
High-School Grad
53.2 sq mi
ZIP Area
122
Density / Sq Mi
$33,102
Median Household Income
$20,797
Median Earnings
$764
Median Rent
$81,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ben Hur | — | — |
| Saint Charles | — | — |
| Dryden | — | — |
| Jonesville | — | — |
Commercial property in Pennington Gap, VA asks $467/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Pennington Gap?
Commercial property in Pennington Gap, VA asks an average of $467 per square foot.
Where does Realmo's Pennington Gap market data come from?
Realmo compiles Pennington Gap, VA figures from 6 recent recorded sales, 10 active sale listings, 1 active lease listings, 202 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 1 active for-lease listings in Pennington Gap, 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.
- 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
