Commercial Real Estate Market in Roanoke, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
247 active listings and 5,684 off-market properties in Roanoke, VA. Commercial property asks $128/SF to buy and $14.00/SF/Yr to lease. Office vacancy runs 4.9%, the loosest of the segments tracked here.
Market Trends
Roanoke, VA spans 140.1 square miles in Roanoke City County, Virginia. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Roanoke, VA has a median asking sale price of $155/SF. Vacancy runs 4.9% in 2025, little changed from 5% in 2019. Down from a 2023 peak of 7.6%.
Retail
Retail space in Roanoke, VA has a median asking sale price of $138/SF (based on 9 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Roanoke, VA has a median asking sale price of $92/SF (based on 4 listings). Vacancy runs 3.3% in 2025, down from 5.4% in 2019. Down from a 2021 peak of 5.9%.
Multifamily
Multifamily space in Roanoke, VA has a median asking sale price of $125/SF (based on 9 listings). Vacancy 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 53.3%
- Industrial 13.5%
- Open space 12.7%
- Commercial 9.3%
- Planned_development 4.7%
- Special 3.4%
- Mixed use 1.9%
- Civic 1.3%
Largest Zones share of zoned land by district
Roanoke, VA zones 27,510 acres across 45 districts. Commercial zoning covers 9.3% of zoned land, residential 53.3%, open space 12.7% and industrial 13.5%. The largest single district is Residential Single Family at 13.9%. For commercial buyers the practical constraint is that only 22.8% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Roanoke, VA has 172,193 residents in 80,336 households. Density runs 1,229 people per square mile. Median household income here is $66,054 and median gross rent $1,063 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Roanoke?
How much does it cost to lease commercial space in Roanoke?
What is the office vacancy rate in Roanoke?
Which property type has the lowest vacancy in Roanoke?
What zoning applies to commercial property in Roanoke?
Where does Realmo's Roanoke market data come from?
Methodology & data sources
- Asking prices and medians
- There are 142 active for-sale and 105 active for-lease listings in Roanoke, VA. The medians are based on 34 of the for-sale and 30 of the for-lease listings, those that state a price or rent per square foot. 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: 27,510 zoned acres across 45 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
- retail vacancy is reported at South region level and multifamily 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 October 2026 · How Realmo checks market page data · Report a data issue
