Commercial Real Estate Market in Spirit Lake, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
35 active listings and 1,207 off-market properties in Spirit Lake, IA. Commercial property asks $291/SF to buy and $9.17/SF/Yr to lease (based on 3 listings).
Market Trends
Spirit Lake, IA spans 105.2 square miles in Dickinson County, Iowa. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Spirit Lake, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Spirit Lake, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Spirit Lake, 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%.
Multifamily
Multifamily space in Spirit Lake, IA has a median asking sale price of $291/SF (based on 7 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
Spirit Lake, IA has 8,553 residents in 6,638 households. Density runs 81 people per square mile. Median household income here is $77,464 and median gross rent $1,005 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Spirit Lake?
How much does it cost to lease commercial space in Spirit Lake?
Where does Realmo's Spirit Lake market data come from?
Methodology & data sources
- Asking prices and medians
- There are 25 active for-sale and 10 active for-lease listings in Spirit Lake, IA. The medians are based on 11 of the for-sale and 3 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
