The Cleveland 3rd Quarter 2026 Retail Market Report compiled by CoStar tracks approximately 194 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 3rd Quarter vacancy rate increased 0.2% to 4.8% for 2026 and is 0.5% higher than the vacancy rate of 4.3% for the 3rd Quarter of 2025.
The Lake County market contains approximately 18 million square feet in 1,425 buildings of which Mentor accounts for approximately 7.6 million square feet (or 42% of the total). The Lake County market vacancy rate is 5.1%, increasing 0.3% from the 2nd Quarter 2026 rate of 4.8%, and it has increased 0.4% from the 4.7% rate of the 3rd Quarter of 2025.
According to the CoStar data, 6.6% of the retail space in the City of Mentor is vacant, which is 0.1% lower than the 2nd Quarter 2026 vacancy rate and remaining the same as the 3rd Quarter 2025 adjusted vacancy rate. The largest available spaces are 7797-7885 Mentor Ave. 58,739 square feet, 7721-7723 Mentor Ave. 42,500 square feet, and 7960-8000 Plaza Blvd. 41,264 square feet.