Lakewood, OH
Commercial Real Estate Market Trends & Data

$156 Avg asking sale price
$13 Avg asking lease rate
20,595 SF Avg unit lease size
55,806 SF Avg building size for sale
7.58% Average cap rate

Lakewood's Demographic Profile

Lakewood has 24,875 households and a median income of $60,818, providing context for rent absorption and tenant demand across retail and multifamily assets. A -3% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 48,013
# Households 24,875
Median age 38
Median household income $60,818
Avg household size 2.0
Renter-occupied housing units 14,038
5-year population change -3%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Lakewood, OH

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Lakewood $121 40,775 SF 8.56%
Rocky River $73 82,748 SF 8.56%
Fairview Park $63 77,128 SF 9.00%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Lakewood $49 111,372 SF 7.16%
Brook Park $108 57,677 SF 6.87%
Nearby Retail Markets Avg Cost/SF Typical Size
Lakewood $185 7,823 SF
Rocky River $189 11,430 SF
Fairview Park $116 10,202 SF
Brooklyn $107 12,328 SF
Brook Park $1,425 10,308 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Brooklyn $77 7,319 SF 12.39%
Cleveland $79 21,789 SF 25.00%
Garfield Heights $77 10,042 SF 9.27%
East Cleveland $42 46,976 SF 8.50%

Commercial Properties For Sale in Lakewood

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

1572 W 117th St

Lakewood, OH 44107

  • 5,198 SF Retail Building
  • $650,000
For Sale

15522 Madison Ave

Lakewood, OH 44107

  • 3,800 SF Retail Building
  • $400,000
For Sale

5 Self-Service Car Washes for Sale

Cleveland, OH

  • $5,999,600
For Sale

Parkwest & Westgate Portfolio

Rocky River, OH

  • Office Building
  • $6,000,000
For Sale

11851 Detroit Ave

Lakewood, OH 44107

  • 5,240 SF Office Building
  • 7.14% Cap Rate
  • $2,350,000
For Sale

19537 Lake Rd

Rocky River, OH 44116

  • 29,200 SF Flex Building
  • $3,750,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Lakewood pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Lakewood $156 55,806 SF
Rocky River $117 55,706 SF
Linndale $432 13,886 SF
Fairview Park $94 44,302 SF
Brooklyn $138 29,973 SF

Regional Demographic Comparison

This comparison places Lakewood alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Lakewood or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Lakewood 48,013 24,875 38 $60,818 2 14,038 -3%
Rocky River 20,515 9,299 45 $86,050 2 2,768 -3%
Linndale 121 46 38 $39,999 2 21 -2%
Fairview Park 16,097 7,270 43 $72,361 2 2,078 -3%
Brooklyn 10,608 4,883 43 $55,452 2 2,127 -3%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Lakewood, OH and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Lakewood

View All Commercial Real Estate For Sale in Lakewood
Is Lakewood a good market for a first-time commercial real estate investor?

Lakewood offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Lakewood?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Lakewood. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Lakewood?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Lakewood. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Lakewood compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Lakewood. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Lakewood acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Lakewood, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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