Commercial Real Estate Market in Hopkins, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
34 active listings and 560 off-market properties in Hopkins, MN. Commercial property asks $116/SF to buy and $20.00/SF/Yr to lease.
Market Trends
Hopkins, MN spans 28.4 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hopkins, 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 Hopkins, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hopkins, 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 space in Hopkins, MN asks $176/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 19.6%
- Mixed use 14.5%
- Industrial 12.1%
- Open space 8.2%
- Civic 5.7%
Largest Zones share of zoned land by district
Suburban Neighborhood Mid Lot
General Residential Mix
Traditional Neighborhood Small Lot
Suburban Neighborhood Large Lot
Parks And Open Space
Suburban Neighborhood Mid Lot (N2-B)
The N2 zone is primarily intended to accommodate detached and semi detached houses in a more suburban context. N2-B zones are for smaller and larger lot neighborhoods, respectively.
Market overview
Demographics & Economy
Hopkins, MN has 69,891 residents in 33,408 households. Density runs 2,463 people per square mile. Median household income here is $109,035 and median gross rent $1,539 a month.
69,891
Population
33,408
Households
2.1
Avg Household Size
41
Median Age
59%
College-Educated
97%
High-School Grad
28.4 sq mi
ZIP Area
2,463
Density / Sq Mi
$109,035
Median Household Income
$64,547
Median Earnings
$1,539
Median Rent
$419,307
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Eden Prairie | — | $33.10 |
| Edina | — | — |
| Saint Louis Park | — | — |
| Minnetonka | — | $19.74 |
Commercial property in Hopkins, MN asks $116/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hopkins?
Commercial property in Hopkins, MN asks an average of $116 per square foot. Multifamily carries the highest asking price at $176/SF.
How much does it cost to lease commercial space in Hopkins?
Asking lease rates in Hopkins, MN average $20.00 per square foot per year.
Where does Realmo's Hopkins market data come from?
Realmo compiles Hopkins, MN figures from 6 recent recorded sales, 18 active sale listings, 16 active lease listings, 560 tracked off-market properties, the current Hopkins zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 18 active for-sale and 16 active for-lease listings in Hopkins, 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: 2,024 zoned acres across 21 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
