Commercial Real Estate Market in Red Wing, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
34 active listings and 689 off-market properties in Red Wing, MN. Commercial property asks $73/SF to buy and $9.00/SF/Yr to lease.
Market Trends
Red Wing, MN spans 120.9 square miles in Goodhue County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Red Wing, 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 Red Wing, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Red Wing, 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 Red Wing, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Red Wing, MN has 18,732 residents in 8,707 households. Density runs 155 people per square mile. Median household income here is $70,529 and median gross rent $958 a month.
18,732
Population
8,707
Households
2.2
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
120.9 sq mi
ZIP Area
155
Density / Sq Mi
$70,529
Median Household Income
$40,764
Median Earnings
$958
Median Rent
$237,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Trenton | — | — |
| Bay City | — | — |
| Frontenac | — | — |
| Maiden Rock | — | — |
Commercial property in Red Wing, MN asks $73/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Red Wing?
Commercial property in Red Wing, MN asks an average of $73 per square foot. The 4 most recent recorded sales traded at a median of $87/SF.
How much does it cost to lease commercial space in Red Wing?
Asking lease rates in Red Wing, MN average $9.00 per square foot per year.
Where does Realmo's Red Wing market data come from?
Realmo compiles Red Wing, MN figures from 5 recent recorded sales, 31 active sale listings, 3 active lease listings, 689 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 31 active for-sale and 3 active for-lease listings in Red Wing, 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 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
