Commercial Real Estate Market in Vermilion, OH
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
27 active listings and 835 off-market properties in Vermilion, OH. Commercial property asks $240/SF to buy and $13.00/SF/Yr to lease.
Market Trends
Vermilion, OH spans 144.5 square miles in Lorain County, Ohio. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Vermilion, 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 Vermilion, OH runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Vermilion, 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 Vermilion, 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
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 72.9%
- Industrial 14.5%
- Commercial 7.2%
- Special 5.4%
Largest Zones share of zoned land by district
Estate Residence
Agriculture
Urban Residence
Special Residence
Highway Commercial
Vermilion, OH zones 6,818 acres across 18 districts. Commercial zoning covers 7.2% of zoned land, residential 72.9% and industrial 14.5%. The largest single district is Estate Residence at 24.7%. For commercial buyers the practical constraint is that only 21.7% of land carries a commercial or industrial designation.
Estate Residence (R-1)
The Estate Residence District is created specifically for use in those areas in which residences are located upon larger than average sized lots and for use in those portions of the City in which it is desired to create areas of low residential density
Market overview
Demographics & Economy
Vermilion, OH has 43,438 residents in 19,631 households. Density runs 301 people per square mile. Median household income here is $83,446 and median gross rent $1,006 a month.
43,438
Population
19,631
Households
2.2
Avg Household Size
48
Median Age
27%
College-Educated
93%
High-School Grad
144.5 sq mi
ZIP Area
301
Density / Sq Mi
$83,446
Median Household Income
$46,611
Median Earnings
$1,006
Median Rent
$212,967
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mitiwanga | — | — |
| Birmingham | — | — |
| Amherst | — | — |
| South Amherst | — | — |
Commercial property in Vermilion, OH asks $240/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Vermilion?
Commercial property in Vermilion, OH asks an average of $240 per square foot. The 3 most recent recorded sales traded at a median of $73/SF, so asking sits 230% above the achieved median. Multifamily carries the highest asking price at $88/SF.
How much does it cost to lease commercial space in Vermilion?
Asking lease rates in Vermilion, OH average $13.00 per square foot per year.
What zoning applies to commercial property in Vermilion?
Vermilion, OH zones 6,818 acres across 18 districts, of which 7.2% is commercial and 14.5% industrial. The largest single district is Estate Residence at 24.7% of zoned land. The Estate Residence District is created specifically for use in those areas in which residences are located upon larger than average sized lots and for use in those portions of the City in which it is desired to create areas of low residential density Residential zoning covers 72.9% and open space 0%.
Where does Realmo's Vermilion market data come from?
Realmo compiles Vermilion, OH figures from 3 recent recorded sales, 19 active sale listings, 8 active lease listings, 835 tracked off-market properties, the current Vermilion zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 19 active for-sale and 8 active for-lease listings in Vermilion, 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: 6,818 zoned acres across 18 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
