Commercial Real Estate Market in Minneapolis, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
942 active listings and 20,625 off-market properties in Minneapolis, MN. Commercial property asks $171/SF to buy and $18.00/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 October 2026.
Office
Office space in Minneapolis, MN asks $19.82/SF/Yr to lease; the median asking sale price is $124/SF. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Minneapolis, MN has a median asking sale price of $158/SF (based on 8 listings). Vacancy runs 4.4% in 2025, down from 5.8% in 2019. Down from a 2020 peak of 6.4%.
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%.
Multifamily
Multifamily space in Minneapolis, MN has a median asking sale price of $172/SF. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Crystal | $215 | — |
| Robbinsdale | $124 | — |
| Fridley | $127 | — |
Commercial property in Minneapolis, MN asks $171/SF. The 3 bordering markets run from $124/SF in Robbinsdale to $215/SF in Crystal, and the city sits above their $127/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Minneapolis?
How much does it cost to lease commercial space in Minneapolis?
Which property type has the lowest vacancy in Minneapolis?
How does Minneapolis compare to nearby markets on price?
Where does Realmo's Minneapolis market data come from?
Methodology & data sources
- Asking prices and medians
- There are 523 active for-sale and 419 active for-lease listings in Minneapolis, MN. The medians are based on 287 of the for-sale and 36 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
