The Cleveland 2nd Quarter 2025 Retail Market Report compiled by CoStar tracks approximately 195 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 2nd Quarter vacancy rate increased 0.2% to 4.5% for 2025, and 0.1% higher than the vacancy rate of 4.4% for the 2nd Quarter of 2024.
The Lake County market contains approximately 18 million square feet in 1,429 buildings of which Mentor accounts for approximately 7.9 million square feet (or 43% of the total). The Lake County market vacancy rate is 4.7%, remaining the same as the 1st Quarter 2025, and it has decreased 0.8% from the 5.5% rate of the 2nd Quarter of 2024.
According to the CoStar data, 7.2% of the retail space in the City of Mentor is vacant, which is 0.5% higher than the 1st Quarter 2025 vacancy rate and 1.0% higher than the 2nd Quarter 2024 adjusted vacancy rate. The largest available spaces are 7721-7723 Mentor Ave. 64,500 square feet, 7960-8000 Plaza Blvd. 41,264 square feet, and 7797-7885 Mentor Ave. 24,282 square feet.