Commercial Real Estate Market in Waconia, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
35 active listings and 289 off-market properties in Waconia, MN.
Market Trends
Waconia, MN spans 31.5 square miles in Carver County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waconia, 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 Waconia, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waconia, 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 Waconia, 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 39.7%
- Civic 17.9%
- Commercial 16.2%
- Planned_development 14.4%
- Industrial 4.5%
- Open space 2.5%
- Agricultural 1.3%
Largest Zones share of zoned land by district
Single Family Residential
Public
Planned Unit Development
Single Family Residential
Highway Business
Single Family Residential (R-1)
The purpose of R-1 zone is to provide for areas within the city primarily intended for low density residential development
Market overview
Demographics & Economy
Waconia, MN has 14,552 residents in 5,711 households. Density runs 461 people per square mile. Median household income here is $109,279 and median gross rent $1,306 a month.
14,552
Population
5,711
Households
2.5
Avg Household Size
38
Median Age
49%
College-Educated
98%
High-School Grad
31.5 sq mi
ZIP Area
461
Density / Sq Mi
$109,279
Median Household Income
$62,716
Median Earnings
$1,306
Median Rent
$418,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Saint Bonifacius | — | — |
| Mayer | — | — |
| Cologne | — | — |
| Victoria | — | — |
Commercial property in Waconia, MN asks $996/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waconia?
Commercial property in Waconia, MN asks an average of $996 per square foot. The 3 most recent recorded sales traded at a median of $135/SF, so asking sits 636% above the achieved median.
Where does Realmo's Waconia market data come from?
Realmo compiles Waconia, MN figures from 8 recent recorded sales, 23 active sale listings, 12 active lease listings, 289 tracked off-market properties, the current Waconia zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 23 active for-sale and 12 active for-lease listings in Waconia, 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: 3,009 zoned acres across 17 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
