The Cleveland 1st Quarter 2025 Retail Market Report compiled by CoStar tracks approximately 199 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 1st Quarter 2025 vacancy rate is 4.2%.
The Lake County market contains approximately 18 million square feet in 1,430 buildings of which Mentor accounts for approximately 8.0 million square feet (or 44% of the total). The Lake County market vacancy rate is 4.5%, remaining the same as 4th Quarter 2024 and decreasing 1.2% from the 5.7% rate of the 1st Quarter of 2024.
According to the CoStar data, 6.7% of the retail space in the City of Mentor is vacant, which is an increase of 0.1% from the 4th Quarter 2024 vacancy rate and a decrease of 0.1% from the 1st 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.