Commercial Real Estate Market in Cleveland, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 42 off-market properties in Cleveland, MN.
Market Trends
Cleveland, MN spans 29.1 square miles in Le Sueur County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Cleveland, 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 Cleveland, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Cleveland, 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 Cleveland, 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 74%
- Commercial 26%
Largest Zones share of zoned land by district
Residential District
Highway Business District
Agricultural District
General Business District
Cleveland, MN zones 327 acres across 4 districts. Commercial zoning covers 26% of zoned land, residential 74%. The largest single district is Residential District at 56%. For commercial buyers the practical constraint is that only 26% of land carries a commercial or industrial designation.
Highway Business District (B-1)
Subd. 2. Permitted Uses. The following uses shall be permitted within the B-1, Highway Business District: A. Agriculture and agri-related uses. B. Armories, convention halls and exhibition halls. C. Automobile, truck and farm implement dealers, new and used vehicle lots, boat, trailer and mobile home display lots and structures. D. Automobile service station…
Market overview
Demographics & Economy
Cleveland, MN has 1,712 residents in 916 households. Density runs 59 people per square mile. Median household income here is $94,250 and median gross rent $858 a month.
1,712
Population
916
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
98%
High-School Grad
29.1 sq mi
ZIP Area
59
Density / Sq Mi
$94,250
Median Household Income
$58,438
Median Earnings
$858
Median Rent
$305,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Saint Peter | — | — |
| Kasota | — | — |
| Le Center | — | — |
| Madison Lake | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Cleveland?
Cleveland, MN zones 327 acres across 4 districts, of which 26% is commercial and 0% industrial. The largest single district is Residential District at 56% of zoned land. Residential zoning covers 74% and open space 0%.
Where does Realmo's Cleveland market data come from?
Realmo compiles Cleveland, MN figures from 7 active sale listings, 42 tracked off-market properties, the current Cleveland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Cleveland, 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: 327 zoned acres across 4 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
