Commercial Real Estate Market in Minnesota
Minnesota has 3,593 active for-sale listings and 2,274 active for-lease listings. Statewide, the median asking price is $143/SF and the median asking rent is $15.25/SF/Yr as of November 2026. Realmo tracks 65 city markets here; among the 13 with enough listings to rank, median asking prices range from $80/SF in Hibbing to $205/SF in Delano.
- Median asking price
- $143/SF
- Median asking rent
- $15.25/SF/Yr
- For-sale listings
- 3,593
- For-lease listings
- 2,274
- City markets
- 65
Highest- and Lowest-Priced Markets
Asking prices vary across Minnesota: the median in Delano is $205/SF, 2.6x the $80/SF median in Hibbing. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Delano at $205/SF, Owatonna at $176/SF and Minneapolis at $169/SF. The lowest median asking prices are in Hibbing at $80/SF, Ely at $88/SF and Saint Cloud at $91/SF. 6 of 13 ranked markets have median asking prices above the statewide $143/SF.
Asking Rents
Minneapolis has the highest median asking rent at $18.00/SF/Yr, and Mankato has the lowest at $13.50/SF/Yr. 1 of 3 ranked markets have median asking rents above the statewide $15.25/SF/Yr.
Minnesota vs. Neighboring States
The median asking price in Minnesota is $143/SF, above the $120/SF median of its 4 neighboring states. By median asking price, the state is the highest of the 5 in the group. The median asking rent is $15.25/SF/Yr, compared with $15.00/SF/Yr in Wisconsin, $14.00/SF/Yr in Iowa and $14.39/SF/Yr in South Dakota next door. The statewide median asking price is below the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Minnesota | $143 | $15.25 | 3,593 | 2,274 |
| Iowa | $100 | $14.00 | 3,011 | 2,265 |
| North Dakota | $135 | $16.00 | 551 | 337 |
| South Dakota | $122 | $14.39 | 690 | 277 |
| Wisconsin | $117 | $15.00 | 5,705 | 1,787 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Minnesota
Realmo tracks 65 city markets in Minnesota; the 40 with the most active listings are listed below. Minneapolis leads with 1,015 active listings, followed by Saint Cloud and Rochester.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Minneapolis | 1,015 | $169 | $18.00 |
| Saint Cloud | 172 | $91 | $15.00 |
| Rochester | 152 | $156 | — |
| Mankato | 114 | $135 | $13.50 |
| Bloomington | 113 | — | — |
| Eagan | 92 | — | — |
| Duluth | 83 | $153 | — |
| Burnsville | 82 | — | — |
| Brainerd | 81 | $118 | — |
| Alexandria | 70 | $116 | — |
| Minnetonka | 69 | — | — |
| Willmar | 54 | — | — |
| Edina | 49 | — | — |
| Shakopee | 48 | — | — |
| Albertville | 44 | — | — |
| Owatonna | 39 | $176 | — |
| Lakeville | 35 | — | — |
| Bemidji | 32 | $96 | — |
| Baxter | 30 | — | — |
| Delano | 30 | $205 | — |
| Austin | 28 | — | — |
| Fridley | 27 | — | — |
| Hopkins | 27 | — | — |
| Saint Peter | 24 | — | — |
| Stillwater | 24 | — | — |
| Hibbing | 23 | $80 | — |
| Savage | 23 | — | — |
| Faribault | 21 | — | — |
| North Mankato | 21 | — | — |
| Blaine | 19 | — | — |
| Ely | 19 | $88 | — |
| Milaca | 18 | — | — |
| Wayzata | 18 | — | — |
| Columbia Heights | 17 | $164 | — |
| Sartell | 17 | — | — |
| Fairmont | 16 | — | — |
| Hinckley | 16 | — | — |
| Waseca | 16 | — | — |
| Jordan | 15 | — | — |
| Maplewood | 15 | — | — |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Minnesota?
How much does it cost to lease commercial space in Minnesota?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Minnesota compare with neighboring states?
Which markets in Minnesota have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 3,593 active for-sale and 2,274 active for-lease listings across Minnesota in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 1,597 for-sale and 161 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
