Commercial Real Estate Market in Grinnell, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
72 active listings and 425 off-market properties in Grinnell, IA.
Market Trends
Grinnell, IA spans 182.2 square miles in Poweshiek County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Grinnell, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Grinnell, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Grinnell, IA 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 Grinnell, IA 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 62.6%
- Industrial 21.8%
- Commercial 15.6%
Largest Zones share of zoned land by district
Single Family Residential
One And Two Family Residential
Multifamily Residential
General Commercial
Light Industrial
Grinnell, IA zones 3,635 acres across 8 districts. Commercial zoning covers 15.6% of zoned land, residential 62.6% and industrial 21.8%. The largest single district is Single Family Residential at 25.4%. For commercial buyers the practical constraint is that only 37.4% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Grinnell, IA has 11,849 residents in 5,018 households. Density runs 65 people per square mile. Median household income here is $64,707 and median gross rent $863 a month.
11,849
Population
5,018
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
96%
High-School Grad
182.2 sq mi
ZIP Area
65
Density / Sq Mi
$64,707
Median Household Income
$34,301
Median Earnings
$863
Median Rent
$198,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Oakland Acres | — | — |
| Malcom | — | — |
| Ewart | — | — |
| Sheridan | — | — |
Commercial property in Grinnell, IA asks $359/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Grinnell?
Commercial property in Grinnell, IA asks an average of $359 per square foot. The 3 most recent recorded sales traded at a median of $45/SF, so asking sits 701% above the achieved median.
What zoning applies to commercial property in Grinnell?
Grinnell, IA zones 3,635 acres across 8 districts, of which 15.6% is commercial and 21.8% industrial. The largest single district is Single Family Residential at 25.4% of zoned land. Residential zoning covers 62.6% and open space 0%.
Where does Realmo's Grinnell market data come from?
Realmo compiles Grinnell, IA figures from 3 recent recorded sales, 71 active sale listings, 1 active lease listings, 425 tracked off-market properties, the current Grinnell zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 71 active for-sale and 1 active for-lease listings in Grinnell, IA. 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: 3,635 zoned acres across 8 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, industrial vacancy is reported at Midwest 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 31 August 2026 · report a data issue
