Commercial Real Estate Market in Stillwater, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
43 active listings and 655 off-market properties in Stillwater, MN. Commercial property asks $125/SF to buy and $11.13/SF/Yr to lease.
Market Trends
Stillwater, MN spans 79.2 square miles in Washington County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Stillwater, 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 Stillwater, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Stillwater, 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 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
One Family Residential
Park Recreation Or Open Space
Two Family Residential
Agricultural Preservation
Traditional Residential
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.
One Family Residential (RA)
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.
36,441
Population
15,493
Households
2.4
Avg Household Size
46
Median Age
53%
College-Educated
97%
High-School Grad
79.2 sq mi
ZIP Area
460
Density / Sq Mi
$117,538
Median Household Income
$58,615
Median Earnings
$1,439
Median Rent
$459,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Oak Park Heights | — | — |
| Bayport | — | — |
| North Hudson | — | — |
| Grant | — | — |
Commercial property in Stillwater, MN asks $125/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Stillwater?
Commercial property in Stillwater, MN asks an average of $125 per square foot. The 4 most recent recorded sales traded at a median of $198/SF.
How much does it cost to lease commercial space in Stillwater?
Asking lease rates in Stillwater, MN average $11.13 per square foot per year.
What zoning applies to commercial property in Stillwater?
Stillwater, MN zones 5,461 acres across 25 districts, of which 6.1% is commercial and 2.7% industrial. The largest single district is One Family Residential at 25.5% of zoned land. 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… Residential zoning covers 57.8% and open space 20.9%.
Where does Realmo's Stillwater market data come from?
Realmo compiles Stillwater, MN figures from 7 recent recorded sales, 25 active sale listings, 18 active lease listings, 655 tracked off-market properties, the current Stillwater zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 25 active for-sale and 18 active for-lease listings in Stillwater, 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: 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 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
