Commercial Real Estate Market in Spicer, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 202 off-market properties in Spicer, MN.
Market Trends
Spicer, MN spans 48.8 square miles in Kandiyohi County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spicer, 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 Spicer, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Spicer, 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 Spicer, 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
- Civic 32.4%
- Commercial 18.5%
- Agricultural 17.3%
- Mixed use 16%
- Open space 14.3%
- Residential 1.6%
Largest Zones share of zoned land by district
Low Density Residential
Highway Commercial
Agricultural
Commercial And Residential Mixed
Park District
Market overview
Demographics & Economy
Spicer, MN has 4,623 residents in 2,773 households. Density runs 95 people per square mile. Median household income here is $105,000 and median gross rent $818 a month.
4,623
Population
2,773
Households
1.7
Avg Household Size
50
Median Age
34%
College-Educated
97%
High-School Grad
48.8 sq mi
ZIP Area
95
Density / Sq Mi
$105,000
Median Household Income
$50,302
Median Earnings
$818
Median Rent
$380,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New London | — | — |
| Kandiyohi | — | — |
| Hawick | — | — |
| Willmar | — | — |
Commercial property in Spicer, MN asks $875/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spicer?
Commercial property in Spicer, MN asks an average of $875 per square foot.
Where does Realmo's Spicer market data come from?
Realmo compiles Spicer, MN figures from 5 recent recorded sales, 7 active sale listings, 202 tracked off-market properties, the current Spicer zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Spicer, 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: 756 zoned acres across 8 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
