Commercial Real Estate Market in Proctor, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2 active listings and 3 off-market properties in Proctor, MN.
Market Trends
Proctor, MN spans 47.3 square miles in St. Louis County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Proctor, 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 Proctor, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Proctor, 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 Proctor, MN asks $129/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 61%
- Commercial 19.9%
- Industrial 10.2%
- Open space 9%
Largest Zones share of zoned land by district
Suburban
Commercial District
Two Family Residential District
One Family Residential District
Industrial
Proctor, MN zones 2,074 acres across 10 districts. Commercial zoning covers 19.9% of zoned land, residential 61%, open space 9% and industrial 10.2%. The largest single district is Suburban at 18.7%. For commercial buyers the practical constraint is that only 30.1% of land carries a commercial or industrial designation.
Two Family Residential District (R-2)
A building or premises in the “R-2” Two-Family Residential District shall be used only for the following purposes; provided, however, that no use shall be allowed which will be likely to directly or indirectly pollute, impair or destroy critical environmental features: (A) Any uses permitted in the “R-1a” One-Family Residential District; and (B) Two-family d…
Market overview
Demographics & Economy
Proctor, MN has 8,700 residents in 3,648 households. Density runs 184 people per square mile. Median household income here is $81,894 and median gross rent $1,102 a month.
8,700
Population
3,648
Households
2.4
Avg Household Size
43
Median Age
27%
College-Educated
96%
High-School Grad
47.3 sq mi
ZIP Area
184
Density / Sq Mi
$81,894
Median Household Income
$49,620
Median Earnings
$1,102
Median Rent
$223,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hermantown | — | — |
| Superior | — | — |
| Oliver | — | — |
| Duluth | — | — |
Commercial property in Proctor, MN asks $74/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Proctor?
Commercial property in Proctor, MN asks an average of $74 per square foot. Multifamily carries the highest asking price at $129/SF.
What zoning applies to commercial property in Proctor?
Proctor, MN zones 2,074 acres across 10 districts, of which 19.9% is commercial and 10.2% industrial. The largest single district is Suburban at 18.7% of zoned land. Residential zoning covers 61% and open space 9%.
Where does Realmo's Proctor market data come from?
Realmo compiles Proctor, MN figures from 2 active sale listings, 3 tracked off-market properties, the current Proctor zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 0 active for-lease listings in Proctor, 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: 2,074 zoned acres across 10 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
