Commercial Real Estate Market in Melrose, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 200 off-market properties in Melrose, MN.
Market Trends
Melrose, MN spans 109.9 square miles in Stearns County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Melrose, 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 Melrose, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Melrose, 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 Melrose, 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 61.5%
- Industrial 21%
- Civic 9.6%
- Commercial 7.9%
Largest Zones share of zoned land by district
Moderate Density Residential
Residential
Industry
Public Institutional
Light Industrial
Melrose, MN zones 2,027 acres across 11 districts. Commercial zoning covers 7.9% of zoned land, residential 61.5% and industrial 21%. The largest single district is Moderate Density Residential at 34.4%. For commercial buyers the practical constraint is that only 28.9% of land carries a commercial or industrial designation.
Moderate Density Residential (R-2)
R-2 Moderate Density Residential R-3 Multiple-Family Residential C-1 Commercial Downtown C-2 Commercial Highway C-3 Commercial Limited (Ord No 1995-F) C-4 Commercial/Residential (Ord No 12-10-2015-2) C-5 Commercial/Residential Downtown (Ord No 07-19-2018-2) M-1 Medical Services (Ord No 1999-G) I Industry I-2 Light Industrial (Ord No 2003-D) P Public-Institut…
Market overview
Demographics & Economy
Melrose, MN has 5,775 residents in 2,656 households. Density runs 53 people per square mile. Median household income here is $71,356 and median gross rent $1,047 a month.
5,775
Population
2,656
Households
2.2
Avg Household Size
39
Median Age
19%
College-Educated
93%
High-School Grad
109.9 sq mi
ZIP Area
53
Density / Sq Mi
$71,356
Median Household Income
$43,909
Median Earnings
$1,047
Median Rent
$225,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New Munich | — | — |
| Meire Grove | — | — |
| Greenwald | — | — |
| Freeport | — | — |
Commercial property in Melrose, MN asks $241/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Melrose?
Commercial property in Melrose, MN asks an average of $241 per square foot.
What zoning applies to commercial property in Melrose?
Melrose, MN zones 2,027 acres across 11 districts, of which 7.9% is commercial and 21% industrial. The largest single district is Moderate Density Residential at 34.4% of zoned land. R-2 Moderate Density Residential R-3 Multiple-Family Residential C-1 Commercial Downtown C-2 Commercial Highway C-3 Commercial Limited (Ord No 1995-F) C-4 Commercial/Residential (Ord No 12-10-2015-2) C-5 Commercial/Residential Downtown (Ord No 07-19-2018-2) M-1 Medical Services (Ord No 1999-G) I Industry I-2 Light Industrial (Ord No 2003-D) P Public-Institut… Residential zoning covers 61.5% and open space 0%.
Where does Realmo's Melrose market data come from?
Realmo compiles Melrose, MN figures from 3 recent recorded sales, 4 active sale listings, 200 tracked off-market properties, the current Melrose zoning release. 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 0 active for-lease listings in Melrose, 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: 2,027 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
