The Cleveland 4th 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 4th Quarter vacancy rate is 4.4% for 2025, decreasing 0.1% from the 3rd Quarter 2025 vacancy rate of 4.5% and remained the same as the 4th Quarter of 2024 vacancy rate.
The Lake County market contains approximately 18 million square feet in 1,424 buildings of which Mentor accounts for approximately 7.6 million square feet (or 42% of the total). The Lake County market vacancy rate decreased 0.1% to 4.5%, and it has decreased 0.2% from the 4.7% rate of the 4th Quarter of 2024.
According to the CoStar data, 6.6% of the retail space in the City of Mentor is vacant, remaining the same as the 3rd Quarter 2025 vacancy rate and decreased 0.4% from the 4th Quarter 2024 7.0% 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.