Commercial Real Estate Market in Milaca, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
37 active listings and 240 off-market properties in Milaca, MN.
Market Trends
Milaca, MN spans 189.8 square miles in Mille Lacs County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milaca, 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 Milaca, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milaca, 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 Milaca, 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 46.7%
- Open space 21.5%
- Commercial 18.7%
- Industrial 12.2%
- Civic 0.9%
Largest Zones share of zoned land by district
Single Family Residential
Conservation
One And Two Family Residential
General Business
Industrial
Milaca, MN zones 2,321 acres across 10 districts. Commercial zoning covers 18.7% of zoned land, residential 46.7%, open space 21.5% and industrial 12.2%. The largest single district is Single Family Residential at 24.6%. For commercial buyers the practical constraint is that only 30.9% of land carries a commercial or industrial designation.
Industrial (I-1)
INDUSTRIAL USE. A permitted, accessory, or conditional use allowed in the I-1 district. JUNK YARD. An area where waste and discarded or salvaged materials are bought, sold, exchanged, stored, baled, cleaned, packed, disassembled, or handled, including but not limited to scrap iron and other metals, paper, rags, rubber products, bottles, and used building mat…
Market overview
Demographics & Economy
Milaca, MN has 9,314 residents in 4,048 households. Density runs 49 people per square mile. Median household income here is $77,170 and median gross rent $882 a month.
9,314
Population
4,048
Households
2.3
Avg Household Size
40
Median Age
17%
College-Educated
92%
High-School Grad
189.8 sq mi
ZIP Area
49
Density / Sq Mi
$77,170
Median Household Income
$41,946
Median Earnings
$882
Median Rent
$239,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Pease | — | — |
| Foreston | — | — |
| Bock | — | — |
| Ronneby | — | — |
Commercial property in Milaca, MN asks $243/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Milaca?
Commercial property in Milaca, MN asks an average of $243 per square foot. The 5 most recent recorded sales traded at a median of $80/SF, so asking sits 206% above the achieved median.
What zoning applies to commercial property in Milaca?
Milaca, MN zones 2,321 acres across 10 districts, of which 18.7% is commercial and 12.2% industrial. The largest single district is Single Family Residential at 24.6% of zoned land. Residential zoning covers 46.7% and open space 21.5%.
Where does Realmo's Milaca market data come from?
Realmo compiles Milaca, MN figures from 6 recent recorded sales, 35 active sale listings, 2 active lease listings, 240 tracked off-market properties, the current Milaca zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 35 active for-sale and 2 active for-lease listings in Milaca, 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: 2,321 zoned acres across 10 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
