Commercial Real Estate Market in Loretto, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Loretto, MN spans 19.5 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Loretto, 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 Loretto, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Loretto, 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 Loretto, 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 46.1%
- Commercial 23.3%
- Planned_development 11.2%
- Industrial 7%
Largest Zones share of zoned land by district
Residential
Traditional Commercial
Public
Planned Unit Development
General Commercial
Loretto, MN zones 166 acres across 7 districts. Commercial zoning covers 23.3% of zoned land, residential 46.1% and industrial 7%. The largest single district is Residential at 43%. For commercial buyers the practical constraint is that only 30.3% of land carries a commercial or industrial designation.
Traditional Commercial (TC)
Section 420:25. REGULATIONS FOR “TC” TRADITIONAL COMMERCIAL DISTRICT. (Added, Ord. 2002-02) Subdivision 1. Purpose. The purpose of the Traditional Commercial district is to provide for a variety of retail, service, office and residential uses within the framework of the traditional downtown commercial core of the city. Subd. 2. Permitted Uses. The following…
Market overview
Demographics & Economy
Loretto, MN has 3,370 residents in 1,284 households. Density runs 173 people per square mile. Median household income here is $147,256 and median gross rent $1,146 a month.
3,370
Population
1,284
Households
2.6
Avg Household Size
42
Median Age
50%
College-Educated
98%
High-School Grad
19.5 sq mi
ZIP Area
173
Density / Sq Mi
$147,256
Median Household Income
$64,231
Median Earnings
$1,146
Median Rent
$491,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Medina | — | — |
| Maple Plain | — | — |
| Greenfield | — | — |
| Independence | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Loretto?
Loretto, MN zones 166 acres across 7 districts, of which 23.3% is commercial and 7% industrial. The largest single district is Residential at 43% of zoned land. Residential zoning covers 46.1% and open space 0%.
Where does Realmo's Loretto market data come from?
Realmo compiles Loretto, MN figures from 8 recent recorded sales, 365 tracked off-market properties, the current Loretto zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- 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: 166 zoned acres across 7 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
