Commercial Real Estate Market in Grand Rapids, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
19 active listings and 1,174 off-market properties in Grand Rapids, MN.
Market Trends
Grand Rapids, MN spans 239.4 square miles in Itasca County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Grand Rapids, 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 Grand Rapids, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Grand Rapids, 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 Grand Rapids, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Grand Rapids, MN has 20,096 residents in 9,733 households. Density runs 84 people per square mile. Median household income here is $68,213 and median gross rent $1,014 a month.
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cohasset | — | — |
| Coleraine | — | — |
| Bovey | — | — |
| Taconite | — | — |
Commercial property in Grand Rapids, MN asks $79/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Grand Rapids?
Commercial property in Grand Rapids, MN asks an average of $79 per square foot.
Where does Realmo's Grand Rapids market data come from?
Realmo compiles Grand Rapids, MN figures from 7 recent recorded sales, 17 active sale listings, 2 active lease listings, 1,174 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 17 active for-sale and 2 active for-lease listings in Grand Rapids, 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
