Commercial Real Estate Market in Waverly, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 37 off-market properties in Waverly, MN.
Market Trends
Waverly, MN spans 36.8 square miles in Wright County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waverly, 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 Waverly, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waverly, 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 Waverly, 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 84.3%
- Commercial 7.3%
- Industrial 6%
- Planned_development 2.4%
Largest Zones share of zoned land by district
Neighborhood Residential
Legacy Residential
Industrial
Business Adjacent To Railroad
Residential Business
Waverly, MN zones 1,188 acres across 8 districts. Commercial zoning covers 7.3% of zoned land, residential 84.3% and industrial 6%. The largest single district is Neighborhood Residential at 70.3%. For commercial buyers the practical constraint is that only 13.3% of land carries a commercial or industrial designation.
Neighborhood Residential (R-2)
SECTION 6. R-2, NEIGHBORHOOD RESIDENTIAL DISTRICT § 153.6.1 INTENT. It is the intent of this district to provide for the orderly development of suburban style residential neighborhoods; permit the development of single-family homes, twin homes, and duplexes; to provide reasonable standards for the development; to prohibit the use of land which would be incom…
Market overview
Demographics & Economy
Waverly, MN has 3,186 residents in 1,244 households. Density runs 87 people per square mile. Median household income here is $107,500 and median gross rent $1,227 a month.
3,186
Population
1,244
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
94%
High-School Grad
36.8 sq mi
ZIP Area
87
Density / Sq Mi
$107,500
Median Household Income
$52,729
Median Earnings
$1,227
Median Rent
$308,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Montrose | — | — |
| Howard Lake | — | — |
| Winsted | — | — |
| Buffalo | — | — |
Commercial property in Waverly, MN asks $647/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waverly?
Commercial property in Waverly, MN asks an average of $647 per square foot.
What zoning applies to commercial property in Waverly?
Waverly, MN zones 1,188 acres across 8 districts, of which 7.3% is commercial and 6% industrial. The largest single district is Neighborhood Residential at 70.3% of zoned land. SECTION 6. R-2, NEIGHBORHOOD RESIDENTIAL DISTRICT § 153.6.1 INTENT. It is the intent of this district to provide for the orderly development of suburban style residential neighborhoods; permit the development of single-family homes, twin homes, and duplexes; to provide reasonable standards for the development; to prohibit the use of land which would be incom… Residential zoning covers 84.3% and open space 0%.
Where does Realmo's Waverly market data come from?
Realmo compiles Waverly, MN figures from 2 recent recorded sales, 4 active sale listings, 3 active lease listings, 37 tracked off-market properties, the current Waverly zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 3 active for-lease listings in Waverly, 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: 1,188 zoned acres across 8 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
