Commercial Real Estate Market in Painesville, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
58 active listings and 1,606 off-market properties in Painesville, OH. Commercial property asks $121/SF to buy (based on 9 listings) and $13.50/SF/Yr to lease (based on 4 listings).
Market Trends
Painesville, OH spans 60.5 square miles in Lake County, Ohio. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Painesville, OH runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Painesville, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Painesville, 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%.
Multifamily
Across Lake County, multifamily space asks $82/SF to buy. Multifamily vacancy in Painesville, OH runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 57.5%
- Industrial 22.4%
- Open space 12%
- Commercial 6.7%
- Mixed use 1.4%
Largest Zones share of zoned land by district
Painesville, OH zones 4,285 acres across 10 districts. Commercial zoning covers 6.7% of zoned land, residential 57.5%, open space 12% and industrial 22.4%. The largest single district is Single Family Residential at 37.9%. For commercial buyers the practical constraint is that only 29.2% of land carries a commercial or industrial designation.
R-1 Single Family Residential R1-60 Single Family Residential R-2 Multi-Family Residential B-1 Business/Residential B-2 General Business B-3 Central Business DD Downtown Development M-1 Light Industrial M-2 Industrial Zoning Overlays: Design Districts, Historic Districts, PUD For more detail regarding zoning regulations for each district, see
Market overview
Demographics & Economy
Painesville, OH has 58,253 residents in 24,928 households. Density runs 962 people per square mile. Median household income here is $80,692 and median gross rent $972 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Painesville?
How much does it cost to lease commercial space in Painesville?
What zoning applies to commercial property in Painesville?
Where does Realmo's Painesville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 30 active for-sale and 28 active for-lease listings in Painesville, OH. The medians are based on 9 of the for-sale and 4 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 4,285 zoned acres across 10 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
