Commercial Real Estate Market in Mercer Island, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
28 active listings and 113 off-market properties in Mercer Island, WA. Commercial property asks $2,720/SF to buy and $32.75/SF/Yr to lease.
Market Trends
Mercer Island, WA spans 6.4 square miles in King County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Mercer Island, WA runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Mercer Island, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Mercer Island, WA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Mercer Island, WA runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Market overview
Demographics & Economy
Mercer Island, WA has 25,748 residents in 10,454 households. Density runs 4,034 people per square mile. Median household income here is $202,359 and median gross rent $2,464 a month.
25,748
Population
10,454
Households
2.5
Avg Household Size
44
Median Age
79%
College-Educated
98%
High-School Grad
6.4 sq mi
ZIP Area
4,034
Density / Sq Mi
$202,359
Median Household Income
$96,073
Median Earnings
$2,464
Median Rent
$1,884,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Issaquah | — | $41.50 |
| Newcastle | — | — |
| Bellevue | — | $33.42 |
| Tukwila | — | $24.44 |
Commercial property in Mercer Island, WA asks $2,720/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mercer Island?
Commercial property in Mercer Island, WA asks an average of $2,720 per square foot. The 4 most recent recorded sales traded at a median of $404/SF, so asking sits 573% above the achieved median.
How much does it cost to lease commercial space in Mercer Island?
Asking lease rates in Mercer Island, WA average $32.75 per square foot per year.
Where does Realmo's Mercer Island market data come from?
Realmo compiles Mercer Island, WA figures from 4 recent recorded sales, 7 active sale listings, 21 active lease listings, 113 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 21 active for-lease listings in Mercer Island, WA. 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 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level, industrial vacancy is reported at West region level and asking prices run materially above recent closed pricing.
- 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 30 September 2026 · report a data issue
