Commercial Real Estate Market in Prior Lake, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 294 off-market properties in Prior Lake, MN.
Market Trends
Prior Lake, MN spans 116.4 square miles in Scott County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Prior Lake, 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 Prior Lake, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Prior Lake, 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 Prior Lake, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Prior Lake, MN has 82,581 residents in 30,659 households. Density runs 710 people per square mile. Median household income here is $122,715 and median gross rent $1,484 a month.
82,581
Population
30,659
Households
2.7
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
116.4 sq mi
ZIP Area
710
Density / Sq Mi
$122,715
Median Household Income
$60,032
Median Earnings
$1,484
Median Rent
$401,134
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Savage | — | — |
| Burnsville | — | $14.41 |
| Shakopee | — | — |
| Chaska | — | — |
Commercial property in Prior Lake, MN asks $569/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Prior Lake?
Commercial property in Prior Lake, MN asks an average of $569 per square foot. The 4 most recent recorded sales traded at a median of $176/SF, so asking sits 224% above the achieved median.
Where does Realmo's Prior Lake market data come from?
Realmo compiles Prior Lake, MN figures from 6 recent recorded sales, 23 active sale listings, 6 active lease listings, 294 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 23 active for-sale and 6 active for-lease listings in Prior Lake, 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
