Farmington, MN Commercial Property for Sale (1 Real Estate Listings)

Farmington, MN Real Estate Statistics

Average Price $458K
Lowest Price $3.2K
Highest Price $2M
Total Listings 168
Avg. Price/SQFT $221

Property Types (active listings)

As of July 14, 2024 there are 1 active Farmington, MN commercial real estate listings for sale with an average listing price of $1,990,900. The highest-priced commercial property listing is $1,990,900, while the lowest priced commercial property can be purchased for $1,990,900. Farmington, MN Commercial properties for sale have an average price of $207 per square foot, based on commercial listings with an average of bedrooms, bathrooms, and 9,600 square feet of living space.

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Farmington, MN Commercial Real Estate & Properties 

Farmington, Minnesota, is a booming city with a lot to offer businesses and entrepreneurs. The city's central location and proximity to the Twin Cities make it an ideal place to shop. And with its growing population, Farmington strongly demands commercial real estate.

Now is an excellent time to invest in Farmington commercial real estate. Many properties are available for sale or lease, and the market is primed for growth. Whether you're looking for office space, retail space, or industrial space, you'll find what you're looking for in Farmington.

Farmington, Minnesota's History

Settlers began arriving in Empire Township, where Farmington grew, in the early 1850s. The village of Dakota City began around the intersection of the Minnesota Central, Hastings, and Dakota railroads and the Vermillion River. The famous city train station in Dakota City was Farmington Station, and non-residents began confusing the two names and identifying the town as Farmington. The town's name was then permanently changed from Dakota City to Farmington. The present name was given to the numerous farms near the original town site.

Farmington received its village charter in 1872, making Farmington the second oldest community in Dakota County after the county seat, Hastings. With its convenient location and rich soil, settlers were attracted to this region to farm. In 1858, Peter Gideon built a gristmill along Factory Creek, known as Gideon's Mill. This mill helped bring other settlers to the area, and by 1860 there were 83 residents living in Farmington. Six years later, when Minnesota became a state, there were 469 residents living within the village limits. The Village of Farmington has continued to grow throughout its history and is now home to over 21,000 residents. Despite its growth, Farmington has retained its small-town feel and is a great place to live, work, and raise a family.

Farmington, Minnesota's Demographics

Farmington is a city located in Dakota County, Minnesota. According to the 2020 Census, the population of Farmington is 24,142. This makes it the 46th largest city in Minnesota and the 1927th largest city in the United States. Farmington has a population density of 1,651 people per square mile, spanning over 15 miles. The city is growing at a rate of 1.07% annually, and its population has increased by 2.16% since the most recent census in 2020. The median age in Farmington is 36 years old.

Farmington, Minnesota, is located in the Twin Cities metropolitan area. As of the 2010 census, the population was 21,086. The city's racial makeup was 88.35% White, 3.16% Two or more races, 3.00% Black or African American, 2.96% Other race, and 2.08% Asian. Native American residents made up 0.43% of the population.

Farmington, Minnesota's Geographic Makeup

Farmington is a city located in the southeastern part of Minnesota, within Dakota County. It sits at an elevation of 902 feet and has a total area of 14.94 square miles, 14.69 of which is land and 0.25 of which is water. The city is traversed by four main routes: County Road 31, County Road 50, Minnesota Highway 50, and Minnesota Highway 3. Farmington prides itself on being a welcoming and inclusive community with various parks, trails, and recreational facilities for residents to enjoy.

Farmington, Minnesota's Economy

Farmington, Minnesota, is a thriving community with a robust economy. The average household income is $107,711, and the poverty rate is 2.93%. The median rental costs are affordable at $1,280 per month, and the median house value is a reasonable $269,500. The median age in Farmington is just 33.7 years, with 34 years for males and 33.3 years for females. All of these factors make Farmington an attractive place to live and work. Plenty of job opportunities are available, and the cost of living is relatively low.

Farmington, Minnesota's Employment

Farmington, Minnesota, is home to a diverse range of industries, with the largest employing sectors being Manufacturing, Health Care & Social Assistance, and Finance & Insurance. The highest-paying industries in the region are Information, Finance & Insurance, and Finance & Insurance, & Real Estate & Rental & Leasing. The strong economy of Farmington provides numerous employment opportunities for its residents. In addition to the many large businesses in the area, many small companies and startups are constantly looking for talented workers.

Why Commercial Real Estate In Farmington, Minnesota?

Farmington, Minnesota, is a great place to invest in commercial real estate. The city's convenient location and diverse population make it an ideal market for businesses of all types. In addition, the strong economy and low cost of living make Farmington an attractive option for both businesses and workers. Farmington should be at the top of your list if you're considering investing in commercial real estate. Thanks to its many advantages, Farmington will provide a solid investment return. Contact us today to learn more about commercial real estate in Farmington, Minnesota.