Commercial Real Estate Market in Stillwater, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
27 active listings and 653 off-market properties in Stillwater, MN.
Market Trends
Stillwater, MN spans 79.2 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Stillwater, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Stillwater, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Stillwater, 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%.
Multifamily
Multifamily space in Stillwater, MN has a median asking sale price of $271/SF (based on 3 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 57.8%
- Open space 20.9%
- Agricultural 9.4%
- Commercial 6.1%
- Industrial 2.7%
- Mixed use 0.7%
Largest Zones share of zoned land by district
Stillwater, MN zones 5,461 acres across 25 districts. Commercial zoning covers 6.1% of zoned land, residential 57.8%, open space 20.9% and industrial 2.7%. The largest single district is One Family Residential at 25.5%. For commercial buyers the practical constraint is that only 8.8% of land carries a commercial or industrial designation.
Sec. 28-155. - Zoning districts created. The City is divided into use districts which shall be known as follows: (1) A-P Agricultural Preservation. (2) LR Lakeshore Residential. (3) CTR Cove Traditional Residential. (4) RA One-Family Districts. (5) TR Traditional Residential. (6) CCR Cove Cottage Residential. (7) RB Two-Family Districts. (8) CR Cottage Resid…
Market overview
Demographics & Economy
Stillwater, MN has 36,441 residents in 15,493 households. Density runs 460 people per square mile. Median household income here is $117,538 and median gross rent $1,439 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Stillwater?
What zoning applies to commercial property in Stillwater?
Where does Realmo's Stillwater market data come from?
Methodology & data sources
- Asking prices and medians
- There are 13 active for-sale and 14 active for-lease listings in Stillwater, MN. The sale median is based on 5 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 5,461 zoned acres across 25 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
