Commercial Real Estate Market in Baxter, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
65 active listings and 541 off-market properties in Baxter, MN.
Market Trends
Baxter, MN spans 340.8 square miles in Crow Wing County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Baxter, 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 Baxter, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Baxter, 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 Baxter, MN 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 68.6%
- Commercial 12.7%
- Open space 10.1%
- Industrial 6.9%
- Planned_development 1.1%
Largest Zones share of zoned land by district
Low Density Residential
Residential Staging
Rural Residential
Public Benefit
Regional Commercial
Baxter, MN zones 12,104 acres across 13 districts. Commercial zoning covers 12.7% of zoned land, residential 68.6%, open space 10.1% and industrial 6.9%. The largest single district is Low Density Residential at 33.6%. For commercial buyers the practical constraint is that only 19.6% of land carries a commercial or industrial designation.
Low Density Residential (R-1)
The intent of this zone is to establish areas for the development of single family detached housing at a maximum density of up to 3 units per net acre, to reserve development areas for single family housing, to restrict encroachment of incompatible uses, to maintain density limitations, to take advantage of municipal utilities, and to preserve open space.
Market overview
Demographics & Economy
Baxter, MN has 39,216 residents in 19,936 households. Density runs 115 people per square mile. Median household income here is $70,493 and median gross rent $961 a month.
39,216
Population
19,936
Households
2
Avg Household Size
40
Median Age
27%
College-Educated
95%
High-School Grad
340.8 sq mi
ZIP Area
115
Density / Sq Mi
$70,493
Median Household Income
$41,399
Median Earnings
$961
Median Rent
$251,471
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Brainerd | — | — |
| East Gull Lake | — | — |
| Sylvan | — | — |
| Merrifield | — | — |
Commercial property in Baxter, MN asks $398/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Baxter?
Commercial property in Baxter, MN asks an average of $398 per square foot.
What zoning applies to commercial property in Baxter?
Baxter, MN zones 12,104 acres across 13 districts, of which 12.7% is commercial and 6.9% industrial. The largest single district is Low Density Residential at 33.6% of zoned land. The intent of this zone is to establish areas for the development of single family detached housing at a maximum density of up to 3 units per net acre, to reserve development areas for single family housing, to restrict encroachment of incompatible uses, to maintain density limitations, to take advantage of municipal utilities, and to preserve open space. Residential zoning covers 68.6% and open space 10.1%.
Where does Realmo's Baxter market data come from?
Realmo compiles Baxter, MN figures from 54 active sale listings, 11 active lease listings, 541 tracked off-market properties, the current Baxter zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 54 active for-sale and 11 active for-lease listings in Baxter, 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.
- Zoning and land use
- The current municipal zoning release: 12,104 zoned acres across 13 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 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
