Commercial Real Estate Market in Springfield, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 187 off-market properties in Springfield, MN.
Market Trends
Springfield, MN spans 146.1 square miles in Brown County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Springfield, 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 Springfield, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Springfield, 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 Springfield, 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 43.4%
- Agricultural 18.8%
- Industrial 13%
- Commercial 9.8%
Largest Zones share of zoned land by district
General Residential Zone
Agricultural Zone
Proposed Special Use District Zone
Industrial Zone
Highway Commercial Zone
General Residential Zone (R-1)
This district is intended to provide for areas of low-density residential uses or to allow for continuation of single family residential development and infill of lots in areas of the City platted prior to the effective date of this Ordinance with available municipal sanitary sewer and water services at a relatively dense urban scale. A full range of public…
Market overview
Demographics & Economy
Springfield, MN has 3,026 residents in 1,442 households. Density runs 21 people per square mile. Median household income here is $64,566 and median gross rent $777 a month.
3,026
Population
1,442
Households
2.1
Avg Household Size
46
Median Age
24%
College-Educated
92%
High-School Grad
146.1 sq mi
ZIP Area
21
Density / Sq Mi
$64,566
Median Household Income
$45,417
Median Earnings
$777
Median Rent
$139,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cobden | — | — |
| Sanborn | — | — |
| Comfrey | — | — |
| Evan | — | — |
Commercial property in Springfield, MN asks $133/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Springfield?
Commercial property in Springfield, MN asks an average of $133 per square foot. The 4 most recent recorded sales traded at a median of $16/SF, so asking sits 740% above the achieved median.
Where does Realmo's Springfield market data come from?
Realmo compiles Springfield, MN figures from 4 recent recorded sales, 5 active sale listings, 187 tracked off-market properties, the current Springfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 5 active for-sale and 0 active for-lease listings in Springfield, 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: 1,143 zoned acres across 7 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
