Commercial Real Estate Market in Preston, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
10 active listings and 142 off-market properties in Preston, MN.
Market Trends
Preston, MN spans 108.5 square miles in Fillmore County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Preston, 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 Preston, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Preston, 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 Preston, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 82.1%
- Industrial 11.2%
- Commercial 2.4%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Agriculture And Residential
One And Two Family Residential
General Industrial
No Zoning
Multiple Family Residential
Preston, MN zones 1,542 acres across 11 districts. Commercial zoning covers 2.4% of zoned land, residential 82.1% and industrial 11.2%. The largest single district is Agriculture And Residential at 54.9%. For commercial buyers the practical constraint is that only 13.6% of land carries a commercial or industrial designation.
Agriculture And Residential (R-1)
R-1 district is established to preserve the present agricultural lands and maintain other lands in a natural state, and permit low density residential development where the development is in accordance with the land use plan and where municipal utilities are economically available.
Market overview
Demographics & Economy
Preston, MN has 2,345 residents in 1,072 households. Density runs 22 people per square mile. Median household income here is $62,917 and median gross rent $681 a month.
2,345
Population
1,072
Households
2.2
Avg Household Size
45
Median Age
26%
College-Educated
94%
High-School Grad
108.5 sq mi
ZIP Area
22
Density / Sq Mi
$62,917
Median Household Income
$43,264
Median Earnings
$681
Median Rent
$191,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Carimona | — | — |
| Fountain | — | — |
| Lanesboro | — | — |
| Pilot Mound | — | — |
Commercial property in Preston, MN asks $147/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Preston?
Commercial property in Preston, MN asks an average of $147 per square foot. The 4 most recent recorded sales traded at a median of $48/SF, so asking sits 206% above the achieved median.
What zoning applies to commercial property in Preston?
Preston, MN zones 1,542 acres across 11 districts, of which 2.4% is commercial and 11.2% industrial. The largest single district is Agriculture And Residential at 54.9% of zoned land. R-1 district is established to preserve the present agricultural lands and maintain other lands in a natural state, and permit low density residential development where the development is in accordance with the land use plan and where municipal utilities are economically available. Residential zoning covers 82.1% and open space 0%.
Where does Realmo's Preston market data come from?
Realmo compiles Preston, MN figures from 8 recent recorded sales, 10 active sale listings, 142 tracked off-market properties, the current Preston zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 0 active for-lease listings in Preston, 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: 1,542 zoned acres across 11 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, 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
