Commercial Real Estate Market in Minnetonka, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
83 active listings and 779 off-market properties in Minnetonka, MN. Commercial property asks $157/SF to buy and $19.74/SF/Yr to lease.
Market Trends
Minnetonka, MN spans 28.4 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Minnetonka, 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 Minnetonka, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Minnetonka, 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 space in Minnetonka, 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
- Residential 75.7%
- Planned_development 13.2%
- Industrial 3%
- Commercial 2.6%
Largest Zones share of zoned land by district
Low Density Residential District
Planned Unit Development
Planned I 394 District
Industrial District
Limited Business District
Minnetonka, MN zones 14,655 acres across 17 districts. Commercial zoning covers 2.6% of zoned land, residential 75.7% and industrial 3%. The largest single district is Low Density Residential District at 73.3%. For commercial buyers the practical constraint is that only 5.5% of land carries a commercial or industrial designation.
Low Density Residential District (R-1)
ORCEMENT. 300.04 . PLANNING COMMISSION. 300.05 . INTERIM USE PERMITS. 300.06 . CONDITIONAL USE PERMITS. 300.07 . VARIANCES. 300.08 . CERTIFICATES OF OCCUPANCY. 300.09 . ZONING ORDINANCE TEXT AND MAP AMENDMENTS. 300.10 . R-1 LOW DENSITY RESIDENTIAL DISTRICT. 300.11 . R-2 LOW DENSITY RESIDENTIAL DISTRICT. 300.12 . R-3 LOW OR MEDIUM DENSITY RESIDENTIAL DISTRICT…
Market overview
Demographics & Economy
Minnetonka, MN has 69,891 residents in 33,408 households. Density runs 2,463 people per square mile. Median household income here is $109,035 and median gross rent $1,539 a month.
69,891
Population
33,408
Households
2.1
Avg Household Size
41
Median Age
59%
College-Educated
97%
High-School Grad
28.4 sq mi
ZIP Area
2,463
Density / Sq Mi
$109,035
Median Household Income
$64,547
Median Earnings
$1,539
Median Rent
$419,307
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hopkins | — | — |
| Medicine Lake | — | — |
| Woodland | — | — |
| Plymouth | — | — |
Commercial property in Minnetonka, MN asks $157/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Minnetonka?
Commercial property in Minnetonka, MN asks an average of $157 per square foot. The 4 most recent recorded sales traded at a median of $201/SF. Multifamily carries the highest asking price at $176/SF.
How much does it cost to lease commercial space in Minnetonka?
Asking lease rates in Minnetonka, MN average $19.74 per square foot per year.
What zoning applies to commercial property in Minnetonka?
Minnetonka, MN zones 14,655 acres across 17 districts, of which 2.6% is commercial and 3% industrial. The largest single district is Low Density Residential District at 73.3% of zoned land. ORCEMENT. 300.04 . PLANNING COMMISSION. 300.05 . INTERIM USE PERMITS. 300.06 . CONDITIONAL USE PERMITS. 300.07 . VARIANCES. 300.08 . CERTIFICATES OF OCCUPANCY. 300.09 . ZONING ORDINANCE TEXT AND MAP AMENDMENTS. 300.10 . R-1 LOW DENSITY RESIDENTIAL DISTRICT. 300.11 . R-2 LOW DENSITY RESIDENTIAL DISTRICT. 300.12 . R-3 LOW OR MEDIUM DENSITY RESIDENTIAL DISTRICT… Residential zoning covers 75.7% and open space 0%.
Where does Realmo's Minnetonka market data come from?
Realmo compiles Minnetonka, MN figures from 4 recent recorded sales, 24 active sale listings, 59 active lease listings, 779 tracked off-market properties, the current Minnetonka zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 24 active for-sale and 59 active for-lease listings in Minnetonka, 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: 14,655 zoned acres across 17 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
