Commercial Real Estate Market in Waukesha, WI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
147 active listings and 2,301 off-market properties in Waukesha, WI. Commercial property asks $153/SF to buy and $12.67/SF/Yr to lease.
Market Trends
Waukesha, WI spans 87.2 square miles in Waukesha County, Wisconsin. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waukesha, WI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Waukesha, WI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waukesha, WI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Waukesha, WI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 35.2%
- Planned_development 16.4%
- Industrial 14.2%
- Open space 9.6%
- Civic 9.2%
- Commercial 5.7%
- Special 3.7%
- Mixed use 0.6%
Largest Zones share of zoned land by district
Single Family Residential
Park
Institutional
General Manufacturing
Temporary Zoning
Single Family Residential (RS-3)
To provide for single family residential development at densities not to exceed 5.5 dwelling units per net acre
Market overview
Demographics & Economy
Waukesha, WI has 94,730 residents in 40,212 households. Density runs 1,086 people per square mile. Median household income here is $91,197 and median gross rent $1,208 a month.
94,730
Population
40,212
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
96%
High-School Grad
87.2 sq mi
ZIP Area
1,086
Density / Sq Mi
$91,197
Median Household Income
$50,405
Median Earnings
$1,208
Median Rent
$319,490
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New Berlin | — | $15.01 |
| Muskego | — | — |
| Seneca Corners | — | — |
| Greenfield | — | $20.92 |
Commercial property in Waukesha, WI asks $153/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waukesha?
Commercial property in Waukesha, WI asks an average of $153 per square foot. The 4 most recent recorded sales traded at a median of $109/SF, so asking sits 41% above the achieved median.
How much does it cost to lease commercial space in Waukesha?
Asking lease rates in Waukesha, WI average $12.67 per square foot per year.
Where does Realmo's Waukesha market data come from?
Realmo compiles Waukesha, WI figures from 7 recent recorded sales, 105 active sale listings, 42 active lease listings, 2,301 tracked off-market properties, the current Waukesha zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 105 active for-sale and 42 active for-lease listings in Waukesha, WI. 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: 13,745 zoned acres across 38 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
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest 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
