Commercial Real Estate Market in Shakopee, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
63 active listings and 734 off-market properties in Shakopee, MN. Commercial property asks $332/SF to buy and $5.75/SF/Yr to lease.
Market Trends
Shakopee, MN spans 116.4 square miles in Scott County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shakopee, 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 Shakopee, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Shakopee, 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 Shakopee, 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 41%
- Agricultural 25%
- Industrial 12.6%
- Open space 11.5%
- Commercial 5%
- Planned_development 2.8%
- Mixed use 1.6%
Largest Zones share of zoned land by district
Agricultural Preservation
Rural Residential
Urban Residential
Park And Open Space
Heavy Industrial
Shakopee, MN zones 16,134 acres across 22 districts. Commercial zoning covers 5% of zoned land, residential 41%, open space 11.5% and industrial 12.6%. The largest single district is Agricultural Preservation at 25%. For commercial buyers the practical constraint is that only 17.6% of land carries a commercial or industrial designation.
Agricultural Preservation (AG)
The purpose of the Agricultural Preservation Zone is to preserve and promote agriculture in the unsewered areas of the city which are suitable for such use, to prevent scattered and leap frog non farm growth, and to prevent premature expenditures for such public services as roads, sewer, water, and police and fire protection.
Market overview
Demographics & Economy
Shakopee, 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 |
|---|---|---|
| Chanhassen | — | — |
| Chaska | — | — |
| Carver | — | — |
| Silver Lake | — | — |
Commercial property in Shakopee, MN asks $332/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Shakopee?
Commercial property in Shakopee, MN asks an average of $332 per square foot. The 5 most recent recorded sales traded at a median of $154/SF, so asking sits 116% above the achieved median.
How much does it cost to lease commercial space in Shakopee?
Asking lease rates in Shakopee, MN average $5.75 per square foot per year.
What zoning applies to commercial property in Shakopee?
Shakopee, MN zones 16,134 acres across 22 districts, of which 5% is commercial and 12.6% industrial. The largest single district is Agricultural Preservation at 25% of zoned land. The purpose of the Agricultural Preservation Zone is to preserve and promote agriculture in the unsewered areas of the city which are suitable for such use, to prevent scattered and leap frog non farm growth, and to prevent premature expenditures for such public services as roads, sewer, water, and police and fire protection. Residential zoning covers 41% and open space 11.5%.
Where does Realmo's Shakopee market data come from?
Realmo compiles Shakopee, MN figures from 6 recent recorded sales, 28 active sale listings, 35 active lease listings, 734 tracked off-market properties, the current Shakopee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 28 active for-sale and 35 active for-lease listings in Shakopee, 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: 16,134 zoned acres across 22 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
