Commercial Real Estate Market in Centerville, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 63 off-market properties in Centerville, MN.
Market Trends
Centerville, MN spans 50.5 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Centerville, 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 Centerville, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Centerville, 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 Centerville, 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 55.6%
- Civic 16.6%
- Commercial 13.9%
- Industrial 8.6%
- Planned_development 2.9%
- Mixed use 2.5%
Largest Zones share of zoned land by district
Single And Family Residential
Public And Institutional
High Density Single And Family Residential
Industrial Park
Rural Residential
Centerville, MN zones 1,369 acres across 12 districts. Commercial zoning covers 13.9% of zoned land, residential 55.6% and industrial 8.6%. The largest single district is Single And Family Residential at 41.4%. For commercial buyers the practical constraint is that only 22.4% of land carries a commercial or industrial designation.
Single And Family Residential (R2)
It is intended that the R-2 District provide for lower-density traditional single-family detached dwelling opportunities in areas where public utilities are available and required for service. The design and circulation of new residential areas are also intended to be complementary with and enhance the communitys small-town atmosphere
Market overview
Demographics & Economy
Centerville, MN has 23,735 residents in 9,355 households. Density runs 470 people per square mile. Median household income here is $127,194 and median gross rent $1,844 a month.
23,735
Population
9,355
Households
2.5
Avg Household Size
39
Median Age
49%
College-Educated
98%
High-School Grad
50.5 sq mi
ZIP Area
470
Density / Sq Mi
$127,194
Median Household Income
$67,946
Median Earnings
$1,844
Median Rent
$408,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lino Lakes | — | — |
| Hugo | — | — |
| Circle Pines | — | — |
| White Bear Township | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Centerville?
Centerville, MN zones 1,369 acres across 12 districts, of which 13.9% is commercial and 8.6% industrial. The largest single district is Single And Family Residential at 41.4% of zoned land. It is intended that the R-2 District provide for lower-density traditional single-family detached dwelling opportunities in areas where public utilities are available and required for service. The design and circulation of new residential areas are also intended to be complementary with and enhance the communitys small-town atmosphere Residential zoning covers 55.6% and open space 0%.
Where does Realmo's Centerville market data come from?
Realmo compiles Centerville, MN figures from 2 recent recorded sales, 2 active sale listings, 1 active lease listings, 63 tracked off-market properties, the current Centerville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 1 active for-lease listings in Centerville, 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: 1,369 zoned acres across 12 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
