Commercial Real Estate Market in Painesville, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
85 active listings and 1,606 off-market properties in Painesville, OH. Commercial property asks $133/SF to buy and $13.75/SF/Yr to lease.
Market Trends
Painesville, OH spans 60.5 square miles in Lake County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Painesville, 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 Painesville, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Painesville, 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 57.5%
- Industrial 22.4%
- Open space 12%
- Commercial 6.7%
- Mixed use 1.4%
Largest Zones share of zoned land by district
Single Family Residential
Multifamily Residential
Light Industrial
Special
Industrial
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.
Single Family Residential (R-1)
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.
58,253
Population
24,928
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
60.5 sq mi
ZIP Area
962
Density / Sq Mi
$80,692
Median Household Income
$45,315
Median Earnings
$972
Median Rent
$217,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Grand River | — | — |
| Fairport Harbor | — | — |
| Concord Township | — | — |
| Concord | — | — |
Commercial property in Painesville, OH asks $133/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Painesville?
Commercial property in Painesville, OH asks an average of $133 per square foot. The 4 most recent recorded sales traded at a median of $63/SF, so asking sits 110% above the achieved median.
How much does it cost to lease commercial space in Painesville?
Asking lease rates in Painesville, OH average $13.75 per square foot per year.
What zoning applies to commercial property in Painesville?
Painesville, OH zones 4,285 acres across 10 districts, of which 6.7% is commercial and 22.4% industrial. The largest single district is Single Family Residential at 37.9% of zoned land. 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 Residential zoning covers 57.5% and open space 12%.
Where does Realmo's Painesville market data come from?
Realmo compiles Painesville, OH figures from 7 recent recorded sales, 55 active sale listings, 30 active lease listings, 1,606 tracked off-market properties, the current Painesville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 55 active for-sale and 30 active for-lease listings in Painesville, 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: 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 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
