Commercial Real Estate Market in New Prague, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
16 active listings and 276 off-market properties in New Prague, MN.
Market Trends
New Prague, MN spans 85.9 square miles in Scott County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in New Prague, 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 New Prague, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in New Prague, 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 New Prague, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
New Prague, MN has 12,913 residents in 4,773 households. Density runs 150 people per square mile. Median household income here is $109,672 and median gross rent $1,183 a month.
12,913
Population
4,773
Households
2.7
Avg Household Size
38
Median Age
33%
College-Educated
97%
High-School Grad
85.9 sq mi
ZIP Area
150
Density / Sq Mi
$109,672
Median Household Income
$54,600
Median Earnings
$1,183
Median Rent
$373,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Heidelberg | — | — |
| Montgomery | — | — |
| Lonsdale | — | — |
| Jordan | — | — |
Commercial property in New Prague, MN asks $313/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Prague?
Commercial property in New Prague, MN asks an average of $313 per square foot. The 4 most recent recorded sales traded at a median of $72/SF, so asking sits 332% above the achieved median.
Where does Realmo's New Prague market data come from?
Realmo compiles New Prague, MN figures from 4 recent recorded sales, 15 active sale listings, 1 active lease listings, 276 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 15 active for-sale and 1 active for-lease listings in New Prague, 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.
- 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
