Commercial Real Estate Market in Albert Lea, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
49 active listings and 821 off-market properties in Albert Lea, MN.
Market Trends
Albert Lea, MN spans 169.3 square miles in Freeborn County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Albert Lea, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Albert Lea, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Albert Lea, MN 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 Albert Lea, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Albert Lea, MN has 21,434 residents in 9,873 households. Density runs 127 people per square mile. Median household income here is $66,479 and median gross rent $843 a month.
21,434
Population
9,873
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
88%
High-School Grad
169.3 sq mi
ZIP Area
127
Density / Sq Mi
$66,479
Median Household Income
$43,867
Median Earnings
$843
Median Rent
$161,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Oakland | — | — |
| Hayward | — | — |
| Twin Lakes | — | — |
| Manchester | — | — |
Commercial property in Albert Lea, MN asks $11/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Albert Lea?
Commercial property in Albert Lea, MN asks an average of $11 per square foot.
Where does Realmo's Albert Lea market data come from?
Realmo compiles Albert Lea, MN figures from 3 recent recorded sales, 41 active sale listings, 8 active lease listings, 821 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 41 active for-sale and 8 active for-lease listings in Albert Lea, MN. 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.
- 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
