Commercial Real Estate Market in Wayzata, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
28 active listings and 405 off-market properties in Wayzata, MN.
Market Trends
Wayzata, MN spans 16.5 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Wayzata, 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 Wayzata, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Wayzata, 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 space in Wayzata, MN asks $176/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 76.8%
- Planned_development 9.9%
- Commercial 4.6%
- Open space 4.5%
- Civic 4.1%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Low Density Single Family Residential District
Low Density Single Family Estate District
Planned Unit Development
Medium Density Single Family Residential District
Single And Two Family Residential District
Wayzata, MN zones 2,021 acres across 19 districts. Commercial zoning covers 4.6% of zoned land, residential 76.8% and open space 4.5%. The largest single district is Low Density Single Family Residential District at 26.6%. For commercial buyers the practical constraint is that only 4.6% of land carries a commercial or industrial designation.
Low Density Single Family Estate District (R-1A)
Conditional Uses (C), Interim Uses (I), Permitted Accessory Uses (A/P), Conditional Accessory Uses (A/C) and Interim Accessory Uses (A/I) are allowed in each zoning district. Residential and Institutional Districts Uses R-1A R-1 R-2A R-2 R-3A R-3 R-4A R-4 R-5 INS Accessory Structure or Use, Residential A/P A/P A/P A/P A/P A/P A/P A/P A/P Cemeteries and Memor…
Market overview
Demographics & Economy
Wayzata, MN has 15,782 residents in 7,445 households. Density runs 955 people per square mile. Median household income here is $170,115 and median gross rent $1,498 a month.
15,782
Population
7,445
Households
2.1
Avg Household Size
48
Median Age
72%
College-Educated
99%
High-School Grad
16.5 sq mi
ZIP Area
955
Density / Sq Mi
$170,115
Median Household Income
$72,262
Median Earnings
$1,498
Median Rent
$795,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Minnetonka Beach | — | — |
| Woodland | — | — |
| Deephaven | — | — |
| Long Lake | — | — |
Commercial property in Wayzata, MN asks $735/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Wayzata?
Commercial property in Wayzata, MN asks an average of $735 per square foot. Multifamily carries the highest asking price at $176/SF.
What zoning applies to commercial property in Wayzata?
Wayzata, MN zones 2,021 acres across 19 districts, of which 4.6% is commercial and 0% industrial. The largest single district is Low Density Single Family Residential District at 26.6% of zoned land. Residential zoning covers 76.8% and open space 4.5%.
Where does Realmo's Wayzata market data come from?
Realmo compiles Wayzata, MN figures from 8 recent recorded sales, 19 active sale listings, 9 active lease listings, 405 tracked off-market properties, the current Wayzata zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 9 active for-lease listings in Wayzata, 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: 2,021 zoned acres across 19 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
