Commercial Real Estate Market in Independence, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
45 active listings and 337 off-market properties in Independence, OH. Commercial property asks $76/SF to buy and $17.61/SF/Yr to lease.
Market Trends
Independence, OH spans 15.7 square miles in Cuyahoga County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Independence, OH runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Independence, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Independence, OH runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Independence, OH asks $78/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 57.2%
- Industrial 13%
- Commercial 1.2%
- Mixed use 1%
- Open space 0.4%
Largest Zones share of zoned land by district
Single Family Dwelling House District
Usa
Commercial Or Industrial District
Office Building And Research Laboratory District
Light Manufacturing District
Independence, OH zones 5,783 acres across 18 districts. Commercial zoning covers 1.2% of zoned land, residential 57.2%, open space 0.4% and industrial 13%. The largest single district is Single Family Dwelling House District at 56.4%. For commercial buyers the practical constraint is that only 14.2% of land carries a commercial or industrial designation.
Single Family Dwelling House District (U-1)
The intent of this zone is to promote single-family dwelling house uses
Market overview
Demographics & Economy
Independence, OH has 20,664 residents in 8,861 households. Density runs 1,315 people per square mile. Median household income here is $98,838 and median gross rent $1,512 a month.
20,664
Population
8,861
Households
2.3
Avg Household Size
49
Median Age
40%
College-Educated
97%
High-School Grad
15.7 sq mi
ZIP Area
1,315
Density / Sq Mi
$98,838
Median Household Income
$59,474
Median Earnings
$1,512
Median Rent
$252,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Valley View | $76 (county avg) | — |
| Seven Hills | $76 (county avg) | — |
| Broadview Heights | $76 (county avg) | $20.63 |
| Brooklyn Heights | $76 (county avg) | — |
Commercial property in Independence, OH asks $76/SF. The 4 bordering markets run from $76/SF in Valley View to $76/SF in Valley View, and the city sits in line with their $76/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Independence?
Commercial property in Independence, OH asks an average of $76 per square foot. The 4 most recent recorded sales traded at a median of $80/SF. Multifamily carries the highest asking price at $78/SF.
How much does it cost to lease commercial space in Independence?
Asking lease rates in Independence, OH average $17.61 per square foot per year.
How does Independence compare to nearby markets on price?
Independence, OH asks $76/SF against $76/SF in Valley View, $76/SF in Seven Hills, $76/SF in Broadview Heights and $76/SF in Brooklyn Heights.
What zoning applies to commercial property in Independence?
Independence, OH zones 5,783 acres across 18 districts, of which 1.2% is commercial and 13% industrial. The largest single district is Single Family Dwelling House District at 56.4% of zoned land. The intent of this zone is to promote single-family dwelling house uses Residential zoning covers 57.2% and open space 0.4%.
Where does Realmo's Independence market data come from?
Realmo compiles Independence, OH figures from 4 recent recorded sales, 4 active sale listings, 41 active lease listings, 337 tracked off-market properties, the current Independence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 41 active for-lease listings in Independence, OH. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 5,783 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
