Commercial Real Estate Market in Mahtomedi, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
6 active listings and 40 off-market properties in Mahtomedi, MN.
Market Trends
Mahtomedi, MN spans 6.1 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mahtomedi, 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 Mahtomedi, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mahtomedi, 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 Mahtomedi, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 64.7%
- Open space 25.8%
- Industrial 7.3%
- Commercial 1.5%
- Planned_development 0.7%
- Agricultural 0.1%
Largest Zones share of zoned land by district
Low Density Residential District
Park Land And Public District
Historic Mahtomedi District
Low Density Residential District
Rural Residential
Mahtomedi, MN zones 2,033 acres across 21 districts. Commercial zoning covers 1.5% of zoned land, residential 64.7%, open space 25.8% and industrial 7.3%. The largest single district is Low Density Residential District at 28.3%. For commercial buyers the practical constraint is that only 8.7% of land carries a commercial or industrial designation.
Low Density Residential District (R1-D)
The intent of the Low Density Residential Districts is to recognize fully or partially developed low density residential areas including supporting public and semi-public facilities, to provide for future development of similar nature and to protect the desired low intensity living environment from encroachment by potential conflicting uses. Permitted and co…
Market overview
Demographics & Economy
Mahtomedi, MN has 8,880 residents in 3,408 households. Density runs 1,458 people per square mile. Median household income here is $132,796 and median gross rent $1,510 a month.
8,880
Population
3,408
Households
2.6
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
6.1 sq mi
ZIP Area
1,458
Density / Sq Mi
$132,796
Median Household Income
$71,786
Median Earnings
$1,510
Median Rent
$481,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Willernie | — | — |
| Dellwood | — | — |
| Grant | — | — |
| White Bear Lake | — | — |
Commercial property in Mahtomedi, MN asks $74/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mahtomedi?
Commercial property in Mahtomedi, MN asks an average of $74 per square foot.
What zoning applies to commercial property in Mahtomedi?
Mahtomedi, MN zones 2,033 acres across 21 districts, of which 1.5% is commercial and 7.3% industrial. The largest single district is Low Density Residential District at 28.3% of zoned land. The intent of the Low Density Residential Districts is to recognize fully or partially developed low density residential areas including supporting public and semi-public facilities, to provide for future development of similar nature and to protect the desired low intensity living environment from encroachment by potential conflicting uses. Permitted and co… Residential zoning covers 64.7% and open space 25.8%.
Where does Realmo's Mahtomedi market data come from?
Realmo compiles Mahtomedi, MN figures from 6 active sale listings, 40 tracked off-market properties, the current Mahtomedi zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 6 active for-sale and 0 active for-lease listings in Mahtomedi, 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: 2,033 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
