Commercial Real Estate Market in Waseca, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
23 active listings and 356 off-market properties in Waseca, MN.
Market Trends
Waseca, MN spans 180.5 square miles in Waseca County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waseca, 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 Waseca, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waseca, 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 Waseca, 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 64.1%
- Industrial 22.9%
- Commercial 10.4%
- Civic 2.6%
Largest Zones share of zoned land by district
Urban Residential District
Suburban Residential District
Moderate Industry District
Limited Industry District
Community Retail And Service Business District
Waseca, MN zones 2,720 acres across 11 districts. Commercial zoning covers 10.4% of zoned land, residential 64.1% and industrial 22.9%. The largest single district is Urban Residential District at 41%. For commercial buyers the practical constraint is that only 33.3% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Waseca, MN has 12,469 residents in 5,216 households. Density runs 69 people per square mile. Median household income here is $73,210 and median gross rent $829 a month.
12,469
Population
5,216
Households
2.4
Avg Household Size
40
Median Age
19%
College-Educated
92%
High-School Grad
180.5 sq mi
ZIP Area
69
Density / Sq Mi
$73,210
Median Household Income
$42,474
Median Earnings
$829
Median Rent
$214,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Meriden | — | — |
| Otisco | — | — |
| Waterville | — | — |
| Janesville | — | — |
Commercial property in Waseca, MN asks $43/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waseca?
Commercial property in Waseca, MN asks an average of $43 per square foot.
What zoning applies to commercial property in Waseca?
Waseca, MN zones 2,720 acres across 11 districts, of which 10.4% is commercial and 22.9% industrial. The largest single district is Urban Residential District at 41% of zoned land. Residential zoning covers 64.1% and open space 0%.
Where does Realmo's Waseca market data come from?
Realmo compiles Waseca, MN figures from 8 recent recorded sales, 20 active sale listings, 3 active lease listings, 356 tracked off-market properties, the current Waseca zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 20 active for-sale and 3 active for-lease listings in Waseca, 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: 2,720 zoned acres across 11 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
