Commercial Real Estate Market in Minneapolis, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
1,003 active listings and 20,625 off-market properties in Minneapolis, MN. Commercial property asks $63/SF to buy and $17.79/SF/Yr to lease. Industrial vacancy runs 4.7%, the loosest of the segments tracked here.
Market Trends
Minneapolis, MN spans 287.5 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Minneapolis, 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 Minneapolis, MN runs 4.4% in 2025, down from 5.8% in 2019. Down from a 2020 peak of 6.4%.
Vacancy Rate %
Industrial
Industrial vacancy in Minneapolis, MN runs 4.7% in 2025, down from 7.2% in 2019. Down from a 2020 peak of 7.7%.
Vacancy Rate %
Multifamily
Multifamily space in Minneapolis, 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
- Open space 17.1%
- Mixed use 12.4%
- Commercial 3.6%
- Residential 3.5%
- Civic 3.3%
Largest Zones share of zoned land by district
Urban Neighborhood 1 Built Form Interior 1
Urban Neighborhood 2 Built Form Interior 2
Urban Neighborhood 1 Built Form Parks
Urban Neighborhood 2 Built Form Interior 3
Production And Processing Built Form Production
Market overview
Demographics & Economy
Minneapolis, MN has 1,141,314 residents in 498,972 households. Density runs 3,969 people per square mile. Median household income here is $93,204 and median gross rent $1,461 a month.
1,141,314
Population
498,972
Households
2.3
Avg Household Size
36
Median Age
48%
College-Educated
93%
High-School Grad
287.5 sq mi
ZIP Area
3,969
Density / Sq Mi
$93,204
Median Household Income
$53,949
Median Earnings
$1,461
Median Rent
$360,585
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lauderdale | — | — |
| Saint Anthony | — | — |
| Columbia Heights | — | — |
| Crystal | — | — |
Commercial property in Minneapolis, MN asks $63/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Minneapolis?
Commercial property in Minneapolis, MN asks an average of $63 per square foot. Multifamily carries the highest asking price at $176/SF.
How much does it cost to lease commercial space in Minneapolis?
Asking lease rates in Minneapolis, MN average $17.79 per square foot per year.
Which property type has the lowest vacancy in Minneapolis?
Retail has the lowest vacancy in Minneapolis, MN at 4.4%, inside a 3.7–6.4% band since 2019. For comparison: office 21.3% (Midwest), industrial 4.7% and multifamily 8% (Midwest).
Where does Realmo's Minneapolis market data come from?
Realmo compiles Minneapolis, MN figures from 8 recent recorded sales, 589 active sale listings, 414 active lease listings, 20,625 tracked off-market properties, the current Minneapolis zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 589 active for-sale and 414 active for-lease listings in Minneapolis, 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: 36,596 zoned acres across 118 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 and multifamily 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
