Commercial Real Estate Market in Elk River, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
52 active listings and 594 off-market properties in Elk River, MN. Commercial property asks $51/SF to buy and $19.61/SF/Yr to lease.
Market Trends
Elk River, MN spans 106.6 square miles in Sherburne County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Elk River, 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 Elk River, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Elk River, 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 Elk River, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Elk River, MN has 43,626 residents in 16,796 households. Density runs 409 people per square mile. Median household income here is $111,481 and median gross rent $1,356 a month.
43,626
Population
16,796
Households
2.6
Avg Household Size
37
Median Age
33%
College-Educated
94%
High-School Grad
106.6 sq mi
ZIP Area
409
Density / Sq Mi
$111,481
Median Household Income
$59,332
Median Earnings
$1,356
Median Rent
$355,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Otsego | — | — |
| Nowthen | — | — |
| Albertville | — | — |
| Ramsey | — | — |
Commercial property in Elk River, MN asks $51/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Elk River?
Commercial property in Elk River, MN asks an average of $51 per square foot. The 7 most recent recorded sales traded at a median of $131/SF.
How much does it cost to lease commercial space in Elk River?
Asking lease rates in Elk River, MN average $19.61 per square foot per year.
Where does Realmo's Elk River market data come from?
Realmo compiles Elk River, MN figures from 7 recent recorded sales, 42 active sale listings, 10 active lease listings, 594 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 42 active for-sale and 10 active for-lease listings in Elk River, 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
