The Cleveland 3rd Quarter 2025 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 was 4.5% for 2025 remaining the same as the vacancy rate for the 3rd Quarter of 2024.
The Lake County market contains approximately 18 million square feet in 1,422 buildings of which Mentor accounts for approximately 7.6 million square feet (or 42% of the total). The Lake County market vacancy rate is 4.6%, which has decreased 0.2% from the 2nd Quarter 2025, and it has decreased 0.1% from the 4.7% rate of the 3rd Quarter of 2024.
According to the CoStar data, 6.6% of the retail space in the City of Mentor is vacant, which is 1.0% less than the 2nd Quarter 2025 vacancy rate and 0.4% less than the 3rd Quarter 2024 adjusted vacancy rate. The largest available spaces are 7723 Mentor Ave. 64,500 square feet, 7960-8000 Plaza Blvd. 41,264 square feet, and 7797-7885 Mentor Ave. 24,282 square feet.