Commercial Real Estate Market in Watertown, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
24 active listings and 133 off-market properties in Watertown, MN.
Market Trends
Watertown, MN spans 37.6 square miles in Carver County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Watertown, 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 Watertown, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Watertown, 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 Watertown, 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 45.1%
- Planned_development 16.8%
- Civic 14.2%
- Open space 10.4%
- Industrial 2.3%
- Commercial 2.2%
Largest Zones share of zoned land by district
Medium Density Residence
Low Density Residence
Agriculture
Parks Open Space
Public Building Or Facility
Medium Density Residence (R-2)
The intent of the medium density residence (R-2) district is to recognize a variety of new and emerging house types, lifestyles and development patterns and to provide for such housing to be developed at somewhat higher densities than the traditional single-family dwelling in response to consumer demands and market restraints, and in order to achieve greater…
Market overview
Demographics & Economy
Watertown, MN has 5,984 residents in 2,386 households. Density runs 159 people per square mile. Median household income here is $92,273 and median gross rent $998 a month.
5,984
Population
2,386
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
37.6 sq mi
ZIP Area
159
Density / Sq Mi
$92,273
Median Household Income
$48,955
Median Earnings
$998
Median Rent
$333,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mayer | — | — |
| Delano | — | — |
| Saint Bonifacius | — | — |
| Minnetrista | — | — |
Commercial property in Watertown, MN asks $90/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Watertown?
Commercial property in Watertown, MN asks an average of $90 per square foot. The 3 most recent recorded sales traded at a median of $221/SF.
Where does Realmo's Watertown market data come from?
Realmo compiles Watertown, MN figures from 5 recent recorded sales, 22 active sale listings, 2 active lease listings, 133 tracked off-market properties, the current Watertown zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 22 active for-sale and 2 active for-lease listings in Watertown, 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: 1,644 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 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
