Minneapolis Retail Market Report
By CREhunt Research · Data through Q1 2025 · Aggregated from Cushman & Wakefield, Northmarq
Quarterly retail market indicators for Minneapolis, aggregated by CREhunt from Cushman & Wakefield, Northmarq. As of Q1 2025, average asking rent was $19.93/SF/yr and vacancy was 2.7%, per Cushman & Wakefield.
Projected current retail pricing — Minneapolis
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Minneapolis retail yet, so this applies the typical cap rate across comparable retail markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2025 Cushman & Wakefield asking-rent data (benchmark cap rate 6.1%–7.2%, asking rent held flat). Assumes ~97% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2025 Cushman & Wakefield | $19.93/SF/yr | 2.7% | -64K SF | — | Cushman & Wakefield |
| Q1 2024 Northmarq | — | — | — | — | Northmarq |
Retail asking rents by submarket
The newest asking rent a named brokerage's report published for each Minneapolis retail submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Apple Valley / Lakeville | $19.86/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Brookdale | $15.03/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Burnsville | $13.54/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Calhoun | $22.25/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Coon Rapids | $22.03/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Eagan | $20.58/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Eden Prairie | $19.53/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Maple Grove | $20.58/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Maplewood | $13.95/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Minneapolis | $17.83/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Rosedale | $24.97/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Sherburne County | $22.22/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Southdale | $26.60/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| St. Paul | $22.71/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| West St. Paul | $22.74/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Woodbury | $16.34/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
| Wright County | $14.69/SF/yr Cushman & Wakefield · Q1 2025 | Cushman & Wakefield, Q1 2025 |
Frequently asked questions
- What is the average asking rent for retail space in Minneapolis?
- As of Q1 2025, the average asking rent for retail space in Minneapolis was $19.93/SF/yr, per Cushman & Wakefield.
- What is the retail vacancy rate in Minneapolis?
- The retail vacancy rate in Minneapolis was 2.7% as of Q1 2025 (Cushman & Wakefield).
- Where does CREhunt's Minneapolis market data come from?
- This report aggregates quarterly retail market data for Minneapolis from Cushman & Wakefield, Northmarq.