Commercial Real Estate Market in Marshall, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
114 active listings and 779 off-market properties in Marshall, MN. Commercial property asks $14/SF to buy and $6.25/SF/Yr to lease.
Market Trends
Marshall, MN spans 193.8 square miles in Lyon County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Marshall, 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 Marshall, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Marshall, 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 Marshall, 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
- Agricultural 34.1%
- Residential 33%
- Industrial 17.7%
- Commercial 13.3%
- Open space 1.1%
- Civic 0.9%
Largest Zones share of zoned land by district
Agriculture
One Family Residence
General Industrial
General Business
Higher Density Multiple Family Residence
Agriculture (A)
The purpose of A zone is to provide for agricultural or undeveloped uses until development pressures.
Market overview
Demographics & Economy
Marshall, MN has 15,480 residents in 6,976 households. Density runs 80 people per square mile. Median household income here is $70,640 and median gross rent $742 a month.
15,480
Population
6,976
Households
2.2
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
193.8 sq mi
ZIP Area
80
Density / Sq Mi
$70,640
Median Household Income
$41,159
Median Earnings
$742
Median Rent
$210,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ghent | — | — |
| Lynd | — | — |
| Amiret | — | — |
| Milroy | — | — |
Commercial property in Marshall, MN asks $14/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Marshall?
Commercial property in Marshall, MN asks an average of $14 per square foot.
How much does it cost to lease commercial space in Marshall?
Asking lease rates in Marshall, MN average $6.25 per square foot per year.
Where does Realmo's Marshall market data come from?
Realmo compiles Marshall, MN figures from 7 recent recorded sales, 112 active sale listings, 2 active lease listings, 779 tracked off-market properties, the current Marshall zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 112 active for-sale and 2 active for-lease listings in Marshall, 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: 6,665 zoned acres across 11 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
