Commercial Real Estate Market in Sheffield Lake, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
11 active listings and 550 off-market properties in Sheffield Lake, OH.
Market Trends
Sheffield Lake, OH spans 12.5 square miles in Lorain County, Ohio. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Sheffield Lake, 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 Sheffield Lake, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Sheffield Lake, 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 Sheffield Lake, OH asks $88/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
Market overview
Demographics & Economy
Sheffield Lake, OH has 12,484 residents in 6,059 households. Density runs 997 people per square mile. Median household income here is $73,151 and median gross rent $1,059 a month.
12,484
Population
6,059
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
997
Density / Sq Mi
$73,151
Median Household Income
$47,207
Median Earnings
$1,059
Median Rent
$177,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Westlake | $76 (county avg) | $18.86 |
| North Olmsted | $76 (county avg) | $15.63 |
Commercial property in Sheffield Lake, OH asks $435/SF. The 2 bordering markets run from $76/SF in Westlake to $76/SF in Westlake, and the city sits above their $76/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Sheffield Lake?
Commercial property in Sheffield Lake, OH asks an average of $435 per square foot. The 4 most recent recorded sales traded at a median of $145/SF, so asking sits 201% above the achieved median. Multifamily carries the highest asking price at $88/SF.
How does Sheffield Lake compare to nearby markets on price?
Sheffield Lake, OH asks $435/SF against $76/SF in Westlake and $76/SF in North Olmsted. Westlake is the cheapest entry point at 83% below Sheffield Lake pricing, with $18.86/SF/Yr asking rents.
Where does Realmo's Sheffield Lake market data come from?
Realmo compiles Sheffield Lake, OH figures from 5 recent recorded sales, 8 active sale listings, 3 active lease listings, 550 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 8 active for-sale and 3 active for-lease listings in Sheffield Lake, 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 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 30 September 2026 · How Realmo checks market page data · Report a data issue
