Commercial Real Estate Market in Lakewood, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
89 active listings and 1,349 off-market properties in Lakewood, OH. Commercial property asks $76/SF to buy and $11.54/SF/Yr to lease.
Market Trends
Lakewood, OH spans 5.4 square miles in Cuyahoga County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lakewood, 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 Lakewood, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lakewood, 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 Lakewood, 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 75%
- Commercial 10.6%
- Industrial 2.7%
- Civic 2.4%
- Open space 2.2%
- Planned_development 0.3%
Largest Zones share of zoned land by district
Single And Two Family
Single Family High Density
Public Use
Commercial Retail
Single Family Low Density
Lakewood, OH zones 3,502 acres across 15 districts. Commercial zoning covers 10.6% of zoned land, residential 75%, open space 2.2% and industrial 2.7%. The largest single district is Single And Two Family at 36.5%. For commercial buyers the practical constraint is that only 13.3% of land carries a commercial or industrial designation.
Single And Two Family (R2)
The intent of this zone to promote Single and Two family residential uses
Market overview
Demographics & Economy
Lakewood, OH has 51,109 residents in 29,101 households. Density runs 9,500 people per square mile. Median household income here is $65,778 and median gross rent $1,011 a month.
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,500
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rocky River | $76 (county avg) | — |
| Linndale | $76 (county avg) | — |
| Fairview Park | $76 (county avg) | — |
| Brooklyn | $76 (county avg) | — |
Commercial property in Lakewood, OH asks $76/SF. The 4 bordering markets run from $76/SF in Rocky River to $76/SF in Rocky River, 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 Lakewood?
Commercial property in Lakewood, OH asks an average of $76 per square foot. The 3 most recent recorded sales traded at a median of $81/SF. Multifamily carries the highest asking price at $78/SF.
How much does it cost to lease commercial space in Lakewood?
Asking lease rates in Lakewood, OH average $11.54 per square foot per year.
How does Lakewood compare to nearby markets on price?
Lakewood, OH asks $76/SF against $76/SF in Rocky River, $76/SF in Linndale, $76/SF in Fairview Park and $76/SF in Brooklyn.
What zoning applies to commercial property in Lakewood?
Lakewood, OH zones 3,502 acres across 15 districts, of which 10.6% is commercial and 2.7% industrial. The largest single district is Single And Two Family at 36.5% of zoned land. The intent of this zone to promote Single and Two family residential uses Residential zoning covers 75% and open space 2.2%.
Where does Realmo's Lakewood market data come from?
Realmo compiles Lakewood, OH figures from 6 recent recorded sales, 79 active sale listings, 10 active lease listings, 1,349 tracked off-market properties, the current Lakewood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 79 active for-sale and 10 active for-lease listings in Lakewood, 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: 3,502 zoned acres across 15 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
