Commercial Real Estate Market in Spencer, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
11 active listings and 33 off-market properties in Spencer, VA.
Market Trends
Spencer, VA spans 40.8 square miles in Henry County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Spencer, VA asks $82/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Spencer, VA asks $165/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Spencer, 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 Spencer, 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
Spencer, VA has 1,655 residents in 731 households. Density runs 41 people per square mile. Median household income here is $62,206 and median gross rent $1,091 a month.
1,655
Population
731
Households
2.3
Avg Household Size
49
Median Age
8%
College-Educated
85%
High-School Grad
40.8 sq mi
ZIP Area
41
Density / Sq Mi
$62,206
Median Household Income
$36,533
Median Earnings
$1,091
Median Rent
$150,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Sandy Ridge | — | — |
| Ayersville | — | — |
| Critz | — | — |
| Fieldale | — | — |
Commercial property in Spencer, VA asks $386/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spencer?
Commercial property in Spencer, VA asks an average of $386 per square foot. Retail carries the highest asking price at $165/SF.
Methodology & data sources
- Asking prices and averages
- Computed from 11 active for-sale and 0 active for-lease listings in Spencer, 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
