Commercial Real Estate Market in Minnetonka, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
69 active listings and 779 off-market properties in Minnetonka, MN.
Market Trends
Minnetonka, MN spans 28.4 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Minnetonka, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Minnetonka, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily vacancy in Minnetonka, MN 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
- Residential 75.7%
- Planned_development 13.2%
- Industrial 3%
- Commercial 2.6%
Largest Zones share of zoned land by 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.
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.
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Frequently Asked Questions
How much does it cost to lease commercial space in Minnetonka?
What zoning applies to commercial property in Minnetonka?
Where does Realmo's Minnetonka market data come from?
Methodology & data sources
- Asking prices and medians
- There are 12 active for-sale and 57 active for-lease listings in Minnetonka, MN. Too few for-sale listings state a price per square foot for a sale median; the rent median is based on 4 of the for-lease listings that state a 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: 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
