Martinsville, VA
Commercial Real Estate Market Trends & Data

$90 Avg asking sale price
$6 Avg asking lease rate
256,747 SF Avg unit lease size
109,561 SF Avg building size for sale
9.92% Average cap rate

Martinsville's Demographic Profile

Martinsville has 6,234 households and a median income of $37,279, providing context for rent absorption and tenant demand across retail and multifamily assets. A +3% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 14,218
# Households 6,234
Median age 45
Median household income $37,279
Avg household size 2.0
Renter-occupied housing units 3,008
5-year population change +3%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Martinsville, VA

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Nearby Retail Markets Avg Cost/SF Typical Size
Martinsville $86 4,200 SF
Collinsville $246 14,724 SF
Bassett $142 9,494 SF
Ridgeway $62 4,850 SF
Spencer $110 4,766 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Martinsville $99 6,300 SF 9.92%
Rocky Mount $185 5,338 SF 7.42%
Roanoke $154 11,698 SF 5.82%

Commercial Properties For Sale in Martinsville

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Ridgemont Circle

Collinsville, VA 24078

  • 6,300 SF Multifamily
  • 9.92% Cap Rate
  • $625,000
For Sale

40,000 sf Warehouse - Collinsville, VA

Collinsville, VA 24078

  • 40,000 SF Industrial Building
  • $1,850,000
For Sale

Greensboro Rd

Martinsville, VA 24112

  • 4.48 AC Lot
  • 1 Industrial Lot
  • $840,000
For Sale

Frith Dr

Martinsville, VA 24112

  • 5.77 AC Lot
  • 1 Industrial Lot
  • $300,000
For Sale

Outparcel D

Martinsville, VA 24112

  • 0.61 AC Lot
  • 1 Commercial Lot
  • $185,000
For Sale

229 Hollie Dr

Martinsville, VA 24112

  • 204,545 SF Industrial Building
  • Price Upon Request

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

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Multifamily vs. Single-Family Investing ROI
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CapEx in Commercial Real Estate
CapEx in Commercial Real Estate
How to plan capital expenditures, prioritize projects, and manage risk without sacrificing returns on your commercial property investment.
Internal Rate of Return (IRR) Calculator
Internal Rate of Return (IRR) Calculator
Use this calculator to measure annualized returns, compare investment scenarios, and evaluate risk across commercial real estate deals.
What is a Ground Lease?
What is a Ground Lease?
Understanding the Nuances of Ground and Land Leases
Master Lease Strategies
Master Lease Strategies
Maximizing Control and Income with Flexible Leasing Solutions
How to Find Industrial Tenants for Your Property
How to Find Industrial Tenants for Your Property
A practical guide to finding qualified industrial tenants, from building your tenant profile to tenant screening and closing the lease.
Bonus Depreciation
Bonus Depreciation
A practical guide to using bonus depreciation to reduce tax liability, improve cash flow, and plan property improvements with timing strategies in mind.
Accelerated Depreciation in Commercial Real Estate
Accelerated Depreciation in Commercial Real Estate
Understand how accelerated depreciation works, which method fits your deal, and how to avoid the tax pitfalls that catch most investors off guard.

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Martinsville pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Martinsville $90 109,561 SF
Collinsville $98 706,514 SF
Stanleytown $1 3,267,000 SF
Bassett $204 821,778 SF
Henry $67 5,920 SF

Regional Demographic Comparison

This comparison places Martinsville alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Martinsville or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Martinsville 14,218 6,234 45 $37,279 2 3,008 3%
Collinsville 7,375 3,212 42 $41,904 2 1,392 -2%
Stanleytown 1,374 604 49 $42,696 2 145 -2%
Bassett 1,020 423 49 $33,161 2 145 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Martinsville, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Martinsville

View All Commercial Real Estate For Sale in Martinsville
Is Martinsville a good market for a first-time commercial real estate investor?

Martinsville offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Martinsville?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Martinsville. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Martinsville?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Martinsville. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Martinsville compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Martinsville. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Martinsville acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Martinsville, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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