Commercial Real Estate Market in Long Lake, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 199 off-market properties in Long Lake, MN.
Market Trends
Long Lake, MN spans 13.1 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Long 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 Long 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 Long 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 space in Long Lake, 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
Market overview
Demographics & Economy
Long Lake, MN has 5,790 residents in 2,312 households. Density runs 444 people per square mile. Median household income here is $171,333 and median gross rent $1,732 a month.
5,790
Population
2,312
Households
2.5
Avg Household Size
45
Median Age
64%
College-Educated
98%
High-School Grad
13.1 sq mi
ZIP Area
444
Density / Sq Mi
$171,333
Median Household Income
$90,433
Median Earnings
$1,732
Median Rent
$712,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Orono | — | — |
| Minnetonka Beach | — | — |
| Wayzata | — | — |
| Medina | — | — |
Commercial property in Long Lake, MN asks $403/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Long Lake?
Commercial property in Long Lake, MN asks an average of $403 per square foot. Multifamily carries the highest asking price at $176/SF.
Where does Realmo's Long Lake market data come from?
Realmo compiles Long Lake, MN figures from 5 recent recorded sales, 4 active sale listings, 1 active lease listings, 199 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 4 active for-sale and 1 active for-lease listings in Long 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
