Commercial Real Estate Market in Plymouth, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
64 active listings and 879 off-market properties in Plymouth, MN. Commercial property asks $47/SF to buy and $18.75/SF/Yr to lease.
Market Trends
Plymouth, MN spans 32.9 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Plymouth, 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 Plymouth, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Plymouth, 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 Plymouth, 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 62%
- Civic 11.7%
- Industrial 8.7%
- Planned_development 8.7%
- Commercial 3.9%
Largest Zones share of zoned land by district
Residential Single Family Detached 1
Residential Single Family Detached 2
Public Institutional
Planned Unit Development
Residential Single Family Detached 3
Plymouth, MN zones 17,446 acres across 21 districts. Commercial zoning covers 3.9% of zoned land, residential 62% and industrial 8.7%. The largest single district is Residential Single Family Detached 1 at 28.8%. For commercial buyers the practical constraint is that only 12.6% of land carries a commercial or industrial designation.
Residential Single Family Detached 1 (RSF-1)
Except in the FRD District and except for residential uses in the RSF-1 and RSF-2 Districts, all exposed parking areas and driveways shall be surfaced with asphalt, concrete, or an equivalent surfacing material (including porous pavement options) as may be approved by the Zoning Administrator. For all uses in the FRD District and for residential uses in the…
Market overview
Demographics & Economy
Plymouth, MN has 81,363 residents in 33,939 households. Density runs 2,474 people per square mile. Median household income here is $135,559 and median gross rent $1,759 a month.
81,363
Population
33,939
Households
2.4
Avg Household Size
39
Median Age
65%
College-Educated
98%
High-School Grad
32.9 sq mi
ZIP Area
2,474
Density / Sq Mi
$135,559
Median Household Income
$76,973
Median Earnings
$1,759
Median Rent
$491,001
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Medicine Lake | — | — |
| Wayzata | — | — |
| Minnetonka | — | $19.74 |
| New Hope | — | — |
Commercial property in Plymouth, MN asks $47/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Plymouth?
Commercial property in Plymouth, MN asks an average of $47 per square foot. Multifamily carries the highest asking price at $176/SF.
How much does it cost to lease commercial space in Plymouth?
Asking lease rates in Plymouth, MN average $18.75 per square foot per year.
What zoning applies to commercial property in Plymouth?
Plymouth, MN zones 17,446 acres across 21 districts, of which 3.9% is commercial and 8.7% industrial. The largest single district is Residential Single Family Detached 1 at 28.8% of zoned land. Except in the FRD District and except for residential uses in the RSF-1 and RSF-2 Districts, all exposed parking areas and driveways shall be surfaced with asphalt, concrete, or an equivalent surfacing material (including porous pavement options) as may be approved by the Zoning Administrator. For all uses in the FRD District and for residential uses in the… Residential zoning covers 62% and open space 0%.
Where does Realmo's Plymouth market data come from?
Realmo compiles Plymouth, MN figures from 7 recent recorded sales, 13 active sale listings, 51 active lease listings, 879 tracked off-market properties, the current Plymouth zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 13 active for-sale and 51 active for-lease listings in Plymouth, 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: 17,446 zoned acres across 21 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
