Richfield, MN Commercial Property for Sale (4 Real Estate Listings)

Richfield, MN Real Estate Statistics

Average Price $393K
Lowest Price $1.3K
Highest Price $4.5M
Total Listings 103
Avg. Price/SQFT $43.9K

Property Types (active listings)

As of May 17, 2024 there are 4 active Richfield, MN commercial real estate listings for sale with an average listing price of $1,797,475. The highest-priced commercial property listing is $4,500,000, while the lowest priced commercial property can be purchased for $549,900. Richfield, MN Commercial properties for sale have an average price of $1,125,216 per square foot, based on commercial listings with an average of bedrooms, bathrooms, and 2,255 square feet of living space.

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Richfield, MN Commercial Real Estate & Properties 

Richfield is a solid real estate market for commercial property, with many businesses and organizations in the city. The Richfield Commercial Real Estate market has various properties for companies looking to relocate or expand their operations.

The City of Richfield offers a variety of incentives to encourage businesses to locate in the city, including tax abatement programs, development grants, and low-interest loans. The town also offers a fast-track permitting process for new construction projects.

There are many reasons why businesses should consider Richfield as a location for their next commercial real estate project:

  • The city is conveniently located in the Twin Cities metropolitan area, with easy access to major highways and airports.
  • Richfield is a safe and family-friendly community with a low crime rate.
  • The city offers a variety of parks and recreation opportunities, as well as several excellent schools.
  • The Richfield Commercial Real Estate market offers a variety of property types, from office space to retail storefronts.

If you are considering a commercial real estate project in the Twin Cities area, Richfield should be at the top of your list. Contact one of our qualified real estate agents today to learn more about the available properties in this vibrant community.

Richfield, Minnesota's History

Richfield, Minnesota's history is one steeped in agriculture and community. Long before the suburban homes that dot the cityscape today were built, Richfield was characterized by its abundance of rich farmland from which it got its name. In 1908, Richfield officially became a city by adopting a President/Trustee form of government. Still, residents of Richfield held town meetings dating back to May 11, 1858 - when Congress admitted Minnesota into the Union. On November 7, 1950, residents voted for a village manager form of government, meaning the City had a Mayor, four council members, and one City Manager. This is the form of government still used today. Richfield's first Mayor was Clarence Christian, who began serving in 1951 but was president in the old format of 1948. Richfield is a thriving city with a rich history and a bright future. We invite you to come and discover all that Richfield has to offer!

Richfield, Minnesota's Demographics

According to the most recent census, the population of Richfield is 36,994. The city has a population density of 5,557 people per square mile. Richfield is growing at a rate of 0.48% annually. The median age in Richfield is 38 years, 37 years for males, and 39 years for females. For every 100 females aged 18 and over, there are 97 males. The median income for households in Richfield is $62,010, and the median income for a family is $76,854. Males have a median income of $52,741 versus $37,885 for females. The per capita income for the city is $31,526. 7.8% of the population and 6.0% of families live below the poverty line. Out of the total population, 10.0% of those under 18 and 4.9% of those 65 and older live below the poverty line. Richfield is a great place to live! The city has many things to offer its residents, including excellent schools, parks, and recreational facilities. Richfield should be at the top of your list if you're looking for a place to call home!

Richfield, Minnesota's Geographic Makeup

Richfield is a city located in Hennepin County, Minnesota. According to the United States Census Bureau, Richfield has a total area of 7.01 square miles, of which 6.87 square miles is land and 0.14 square miles is water.

Interstates 35W and 494 and Minnesota State Highways 62 and 77 are four of the main routes in the city. Other main routes include 66th Street, which forms the northern border with Minneapolis, and Lyndale Avenue, which forms part of the eastern border with Edina. Highways 62 and 77 provide direct access to downtown Minneapolis, while I-35W allows access to downtown Minneapolis and Saint Paul. I-494 runs east-west through southern Richfield and provides access to Bloomington and Saint Paul.

Richfield, Minnesota‘s Economy

Richfield is home to various businesses, industries, and cultural and recreational opportunities. The median household income in Richfield is $70,091, which is higher than the national average. The cost of living in Richfield is also relatively low, making it an affordable place to live. The city's economy is diversified, with a mix of manufacturing, service, and retail businesses. Richfield is also home to many different schools and universities, contributing to the local economy. Overall, Richfield is a thriving city with a strong economy.

Richfield, Minnesota's Employment

The largest industries in Richfield are health care and social assistance, retail trade, and professional, scientific, and technical services. And the highest-paying sectors are utilities, management of companies and enterprises, and professional, scientific, and technical assistance. So whether you're looking for a stable career or a new business opportunity, Richfield is a great place to be. We hope you enjoy your time here!

Why Commercial Real Estate In Richfield, Minnesota?

Richfield is a great place to invest in commercial real estate. The city's economy is substantial and diversified, with a mix of manufacturing, service, and retail businesses. The cost of living is relatively low, making Richfield an affordable place. And the city has several different schools and universities, contributing to the local economy. Overall, Richfield is a thriving city with a strong economy. So if you're looking for an excellent place to invest in commercial real estate, Richfield should be on your list!