Commercial Real Estate Market in Forest Lake, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
38 active listings and 384 off-market properties in Forest Lake, MN. Commercial property asks $229/SF to buy and $6.50/SF/Yr to lease.
Market Trends
Forest Lake, MN spans 77.1 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Forest Lake, 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 Forest Lake, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Forest Lake, 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 Forest Lake, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Forest Lake, MN has 25,784 residents in 10,522 households. Density runs 335 people per square mile. Median household income here is $95,993 and median gross rent $1,355 a month.
25,784
Population
10,522
Households
2.5
Avg Household Size
40
Median Age
36%
College-Educated
94%
High-School Grad
77.1 sq mi
ZIP Area
335
Density / Sq Mi
$95,993
Median Household Income
$51,041
Median Earnings
$1,355
Median Rent
$385,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Stanford | — | — |
| Columbus | — | — |
| Wyoming | — | — |
| Chisago City | — | — |
Commercial property in Forest Lake, MN asks $229/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Forest Lake?
Commercial property in Forest Lake, MN asks an average of $229 per square foot. The 6 most recent recorded sales traded at a median of $219/SF, so asking sits 5% above the achieved median.
How much does it cost to lease commercial space in Forest Lake?
Asking lease rates in Forest Lake, MN average $6.50 per square foot per year.
Where does Realmo's Forest Lake market data come from?
Realmo compiles Forest Lake, MN figures from 6 recent recorded sales, 22 active sale listings, 16 active lease listings, 384 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 22 active for-sale and 16 active for-lease listings in Forest Lake, 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
