Commercial Real Estate Market in Mentor, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
133 active listings and 1,950 off-market properties in Mentor, OH. Commercial property asks $92/SF to buy and $10.89/SF/Yr to lease.
Market Trends
Mentor, OH spans 39.9 square miles in Lake County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mentor, 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 Mentor, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mentor, 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 vacancy in Mentor, OH runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 55.2%
- Industrial 16.2%
- Open space 14.5%
- Commercial 7%
- Planned_development 0.4%
- Mixed use 0%
Largest Zones share of zoned land by district
Single Family Residential 15000 Square Feet
Single Family Residential 22000 Square Feet
Conservation
Light Manufacturing
Village Green
Mentor, OH zones 17,556 acres across 19 districts. Commercial zoning covers 7% of zoned land, residential 55.2%, open space 14.5% and industrial 16.2%. The largest single district is Single Family Residential 15000 Square Feet at 25%. For commercial buyers the practical constraint is that only 23.2% of land carries a commercial or industrial designation.
Conservation (C-1)
The purpose of this district is to conserve and protect ecologically sensitive areas and other special areas with unique features
Market overview
Demographics & Economy
Mentor, OH has 60,360 residents in 27,276 households. Density runs 1,512 people per square mile. Median household income here is $85,881 and median gross rent $1,156 a month.
60,360
Population
27,276
Households
2.2
Avg Household Size
47
Median Age
35%
College-Educated
96%
High-School Grad
39.9 sq mi
ZIP Area
1,512
Density / Sq Mi
$85,881
Median Household Income
$51,736
Median Earnings
$1,156
Median Rent
$227,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Kirtland | — | — |
| Kirtland Hills | — | — |
| Willoughby | — | — |
| Waite Hill | — | — |
Commercial property in Mentor, OH asks $92/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mentor?
Commercial property in Mentor, OH asks an average of $92 per square foot. The 5 most recent recorded sales traded at a median of $297/SF.
How much does it cost to lease commercial space in Mentor?
Asking lease rates in Mentor, OH average $10.89 per square foot per year.
What zoning applies to commercial property in Mentor?
Mentor, OH zones 17,556 acres across 19 districts, of which 7% is commercial and 16.2% industrial. The largest single district is Single Family Residential 15000 Square Feet at 25% of zoned land. Residential zoning covers 55.2% and open space 14.5%.
Where does Realmo's Mentor market data come from?
Realmo compiles Mentor, OH figures from 6 recent recorded sales, 49 active sale listings, 84 active lease listings, 1,950 tracked off-market properties, the current Mentor zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 49 active for-sale and 84 active for-lease listings in Mentor, 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.
- 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: 17,556 zoned acres across 19 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
