Commercial Real Estate Market in Roanoke, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
403 active listings and 5,685 off-market properties in Roanoke, VA. Commercial property asks $38/SF to buy and $14.13/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 August 2026.
Office
Office vacancy in Roanoke, VA runs 4.9% in 2025, little changed from 5% in 2019. Down from a 2023 peak of 7.6%.
Vacancy Rate %
Retail
Retail vacancy in Roanoke, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Roanoke, VA runs 3.3% in 2025, down from 5.4% in 2019. Down from a 2021 peak of 5.9%.
Vacancy Rate %
Multifamily
Multifamily vacancy in Roanoke, 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 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
Residential Single Family
Recreation And Open Space
Residential Single Family
Residential Mixed Density
Residential Single Family
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.
172,193
Population
80,336
Households
2.1
Avg Household Size
41
Median Age
34%
College-Educated
92%
High-School Grad
140.1 sq mi
ZIP Area
1,229
Density / Sq Mi
$66,054
Median Household Income
$43,061
Median Earnings
$1,063
Median Rent
$228,370
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Charity | — | — |
| Vinton | — | — |
| Melrose | — | — |
| Hollins | — | — |
Commercial property in Roanoke, VA asks $38/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Roanoke?
Commercial property in Roanoke, VA asks an average of $38 per square foot. The 6 most recent recorded sales traded at a median of $334/SF.
How much does it cost to lease commercial space in Roanoke?
Asking lease rates in Roanoke, VA average $14.13 per square foot per year.
What is the office vacancy rate in Roanoke?
Office vacancy in Roanoke, VA is 4.9% as of 2025, little changed from 5% in 2019.
Which property type has the lowest vacancy in Roanoke?
Industrial has the lowest vacancy in Roanoke, VA at 3.3%, inside a 2.2–5.9% band since 2019. For comparison: office 4.9%, retail 5.4% (South) and multifamily 11.3% (South).
What zoning applies to commercial property in Roanoke?
Roanoke, VA zones 27,510 acres across 45 districts, of which 9.3% is commercial and 13.5% industrial. The largest single district is Residential Single Family at 13.9% of zoned land. Residential zoning covers 53.3% and open space 12.7%.
Where does Realmo's Roanoke market data come from?
Realmo compiles Roanoke, VA figures from 8 recent recorded sales, 297 active sale listings, 106 active lease listings, 5,685 tracked off-market properties, the current Roanoke zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 297 active for-sale and 106 active for-lease listings in Roanoke, 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: 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 August 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 August 2026 · report a data issue
