Commercial Real Estate Market in Lilydale, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1 active listing and 3 off-market properties in Lilydale, MN.
Market Trends
Lilydale, MN spans 10.5 square miles in Dakota County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lilydale, 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 Lilydale, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lilydale, 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 Lilydale, MN asks $173/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
- Open space 69.3%
- Planned_development 15.1%
- Residential 11.7%
- Commercial 3.9%
Largest Zones share of zoned land by district
Open Space
Planned Unit Development
Multifamily Residential
General Business
Single Family Residential
Lilydale, MN zones 347 acres across 5 districts. Commercial zoning covers 3.9% of zoned land, residential 11.7% and open space 69.3%. The largest single district is Open Space at 69.3%. For commercial buyers the practical constraint is that only 3.9% of land carries a commercial or industrial designation.
Open Space (OS)
City as OS Open Space is included in the Open Space District. 904.13 M-1 MIXED USE REDEVELOPMENT DISTRICT. 1. Purpose. The purpose of this district is to encourage mixed use developm ent in high profile locations in the City in accordance with the Comprehensive Plan. Multi-family residential must be integrated thematically with supportive office and commerci…
Market overview
Demographics & Economy
Lilydale, MN has 29,106 residents in 13,751 households. Density runs 2,781 people per square mile. Median household income here is $85,229 and median gross rent $1,215 a month.
29,106
Population
13,751
Households
2.1
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
10.5 sq mi
ZIP Area
2,781
Density / Sq Mi
$85,229
Median Household Income
$53,917
Median Earnings
$1,215
Median Rent
$331,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mendota Heights | — | — |
| Mendota | — | — |
| Saint Paul | — | $36.00 |
| West Saint Paul | — | — |
Frequently Asked Questions
How much does it cost to lease commercial space in Lilydale?
Asking lease rates in Lilydale, MN average $12.00 per square foot per year.
What zoning applies to commercial property in Lilydale?
Lilydale, MN zones 347 acres across 5 districts, of which 3.9% is commercial and 0% industrial. The largest single district is Open Space at 69.3% of zoned land. City as OS Open Space is included in the Open Space District. 904.13 M-1 MIXED USE REDEVELOPMENT DISTRICT. 1. Purpose. The purpose of this district is to encourage mixed use developm ent in high profile locations in the City in accordance with the Comprehensive Plan. Multi-family residential must be integrated thematically with supportive office and commerci… Residential zoning covers 11.7% and open space 69.3%.
Where does Realmo's Lilydale market data come from?
Realmo compiles Lilydale, MN figures from 1 active lease listings, 3 tracked off-market properties, the current Lilydale zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 0 active for-sale and 1 active for-lease listings in Lilydale, 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: 347 zoned acres across 5 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
