Westlake, OH
Commercial Real Estate Market Trends & Data

$225 Avg asking sale price
$15 Avg asking lease rate
10,655 SF Avg unit lease size
30,546 SF Avg building size for sale
7.39% Average cap rate

Westlake's Demographic Profile

Westlake has 13,926 households and a median income of $100,456, 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 32,724
# Households 13,926
Median age 47
Median household income $100,456
Avg household size 2.0
Renter-occupied housing units 4,281
5-year population change -3%

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

↻ Updated Monthly

{{marketTabDescriptions[activeMarketTab]}}

Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Westlake $217 35,848 SF 7.39%
Fairview Park $63 77,128 SF 9.00%
Rocky River $77 68,358 SF 8.56%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Olmsted Falls $103 57,948 SF 6.58%
Olmsted Twp $143 29,790 SF 6.58%
Brook Park $96 67,027 SF 6.87%
Berea $143 29,790 SF 6.58%
Nearby Retail Markets Avg Cost/SF Typical Size
Westlake $293 2,031 SF
North Olmsted $493 1,810 SF
Fairview Park $116 10,202 SF
Rocky River $156 5,977 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Lakewood $98 22,442 SF 6.81%
Brooklyn $98 6,505 SF 12.39%
Lorain $48 14,227 SF 9.24%

Commercial Properties For Sale in Westlake

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

Teal Place North

Westlake, OH 44145

  • 29,000 SF Office Building
  • $550,000
For Sale

King James South I

Westlake, OH 44145

  • 44,000 SF Office Building
  • $125,000
For Sale

Westlake Professional Campus

Westlake, OH 44145

  • 8,744 SF Office Building
  • $425,000
For Sale

1636 Dover Center Rd

Westlake, OH 44145

  • 2.10 AC Lot
  • 1 Residential Income Lot
  • $995,000
For Sale

835 Sharon Dr

Westlake, OH 44145

  • 68,254 SF Office Building
  • $450,000
For Sale

Development Opportunity Next to Crocker Park

Westlake, OH 44145

  • 4.91 AC Lot
  • 1 Residential Income Lot
  • $1,250,000

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

Where Multifamily Asking Prices Are Rising and Falling in 2026
Where Multifamily Asking Prices Are Rising and Falling in 2026
LoopNet listing data from November 2025 through March 2026 reveals a supply-driven split in multifamily asking prices across U.S. markets, and what it means for investors deciding where to buy.
Online Auctions vs. Traditional Sales
Online Auctions vs. Traditional Sales
Learn how you can strategically use the two transaction methods to achieve stronger outcomes, whether that's a faster deal, maximized sales price, or a low risk of fallouts.
What Are Leasehold Improvements?
What Are Leasehold Improvements?
A complete guide to leasehold improvements, including what qualifies, who owns them, how they affect taxes, and how to maximize their value.
Straight-Line Depreciation in Commercial Real Estate
Straight-Line Depreciation in Commercial Real Estate
Understand how straight-line depreciation works, when to use it, and how it affects your after-tax returns across every stage of ownership.
Small vs. Large Multifamily Real Estate Investing
Small vs. Large Multifamily Real Estate Investing
Compare financing, cash flow, risk, and exit options so you can choose the right property size for your goals.
How to Buy a Duplex
How to Buy a Duplex
Breaking down every stage of buying a duplex, from budgeting and financing to agent selection and market analysis, ensuring you make an informed investment decision.
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
New Space, Quick Occupancy, No Construction
Force Majeure Clause
Force Majeure Clause
Understand how force majeure clauses work in commercial real estate leases, including what they cover, when they apply, and how to draft them to manage risk.

Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
Westlake $225 30,546 SF
North Olmsted $309 81,029 SF
Bay Village $293 12,155 SF
Fairview Park $94 44,302 SF
Rocky River $112 47,656 SF

Regional Demographic Comparison

This comparison places Westlake 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 Westlake or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Westlake 32,724 13,926 47 $100,456 2 4,281 -3%
North Olmsted 30,555 12,921 44 $76,256 2 3,183 -3%
Bay Village 14,868 5,678 45 $115,527 3 473 -4%
Fairview Park 16,097 7,270 43 $72,361 2 2,078 -3%
Rocky River 20,515 9,299 45 $86,050 2 2,768 -3%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Westlake, 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 Westlake

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

Westlake 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 Westlake?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Westlake. 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 Westlake?

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

How does Westlake compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Westlake. 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 Westlake acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Westlake, 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.

Nearby Market Trends