Minnetonka, MN Commercial Property for Sale (3 Real Estate Listings)
Minnetonka, MN Real Estate Statistics
Property Types (active listings)
As of October 3, 2023 there are 3 active Minnetonka, MN commercial real estate listings for sale with an average listing price of $765,013. The highest-priced commercial property listing is $2,295,000, while the lowest priced commercial property can be purchased for $19. Minnetonka, MN Commercial properties for sale have an average price of $303 per square foot, based on commercial listings with an average of bedrooms, bathrooms, and 8,746 square feet of living space.
Minnetonka, MN Commercial Real Estate & Properties
Commercial real estate in Minnetonka, Minnesota, is a great investment opportunity. The city is home to many large businesses and organizations, making it a prime location for commercial property. Minnetonka is proliferating and is expected to appreciate at a rapid pace.
Keep a few things in mind if you consider investing in commercial real estate in Minnetonka, Minnesota. First, the city is home to many large businesses and organizations. As a result, competition for space is fierce, and rents are high. Second, the city has a strong economy and is growing rapidly. As a result, commercial real estate in Minnetonka is expected to appreciate at a rapid pace.
Minnetonka, Minnesota's History
Minnetonka, Minnesota's history includes Native Americans, early explorers, and settlers. The Minnetonka area was home to the Dakota and Ojibwe Native American tribes before Euro-Americans arrived in the 1800s. They believed Lake Minnetonka and the land around it to be sacred. The first recorded area exploration by Euro-Americans was in 1822 when a group from Fort Snelling made its way up Minnehaha Creek to the lake. In 1851, the Dakota sold the area, including Minnetonka, to the United States with the Treaty of Traverse des Sioux. Early explorers and settlers were attracted to the area because of the abundant resources, including timber and minerals. Logging was an early industry in Minnetonka, followed by farming and quarrying. In recent years, Minnetonka has primarily become a residential suburb of Minneapolis, but it still retains its small-town charm.
Minnetonka, Minnesota's Demographics
According to the 2020 census, the city has a population of 54,591, making it the 19th largest city in Minnesota. Minnetonka is currently growing at a rate of 0.75% annually. The city spans over 28 miles and has a population density of 2,029 people per square mile. Minnetonka is a diverse city, with a significant portion of its population comprised of non-white residents. According to the most recent census data, 38.8% of the city's residents are white, 30.1% are Hispanic or Latino, 15.7% are black or African American, and 13.6% are Asian.
Additionally, the city is home to many immigrants; approximately 15.5% of Minnetonka's residents are foreign-born. The majority of the city's immigrant population comes from Somalia (5%), India (2%), and Ethiopia (1%). Minnetonka is also home to several major businesses and employers, including UnitedHealth Group, Cargill, and Supervalu Inc.
Minnetonka, Minnesota's Geographic Makeup
Minnetonka is a suburban city in Hennepin County, Minnesota, eight miles (13 km) west of Minneapolis. The city is located on the Eastern tip of Lake Minnetonka, one of the largest lakes in Minnesota. The outlet of Lake Minnetonka is Minnehaha Creek, which winds through South Minneapolis before ending at Minnehaha Falls and flowing into the Mississippi River. Interstates 394 and 494 are two of the main routes in the city. According to the United States Census Bureau, the city has a total area of 28.2 square miles (73.1 km²)—27.1 square miles (70.3 km²) of it is land, and 1.1 square miles (2.87 km²) of it (3.83%) is water. The elevation is 889 ft (271 m) above sea level.
Minnetonka, Minnesota‘s Economy
Minnetonka, Minnesota, is a thriving community with a strong economy. The median household income in Minnetonka is $100,363, and the median income for families is even higher at $147,672. The per capita income in Minnetonka is also high at $32,361. This means that families in Minnetonka have a lot of disposable income to spend on goods and services. The increased payments in Minnetonka are due to many high-paying jobs in the area. Many residents work in management, business, science, and finance. There are also a significant number of residents who work in healthcare and education. These well-paying jobs help to support the local economy and make Minnetonka a great place to live.
Minnetonka, Minnesota's Employment
Minnetonka, Minnesota's economy employs 29.7k people in a variety of industries. The largest industries are health care and social assistance, professional and technical services, and manufacturing. These industries provide the most jobs in Minnetonka, MN. The highest-paying industries are agriculture, forestry, fishing and hunting, mining, and manufacturing. These industries offer the highest wages in Minnetonka, MN. Manufacturing is the third largest industry in Minnetonka, MN, and provides an average salary of $90,659 annually. Agriculture, forestry, fishing, and hunting is the second largest industry in terms of employment but is the highest paying industry with an average salary of $101,528 per year. The largest sector in Minnetonka, MN, is health care and social assistance, which employs 4,278 people. This industry has the second-highest average salary at $98,625 per year.
Why Commercial Real Estate In Minnetonka, Minnesota?
Minnetonka, Minnesota, is a great place to invest in commercial real estate. The city has a strong economy with high-paying jobs in various industries. Families in Minnetonka have a lot of disposable income to spend on goods and services. Minnetonka is also located near Minneapolis, which is a major economic center. This makes Minnetonka a prime location for businesses that want to be close to the action but don't want to pay the high prices of downtown Minneapolis. There are many opportunities for commercial real estate investors in Minnetonka, MN.