What is the typical cap rate for retail in Cleveland?

About 8.7% as of Q1 2026, per www matthews com.

Is the Cleveland retail market tightening or softening?

Vacancy is around 4.4% (Q1 2026).

Retail

1 Acre Ground Lease Development

1 acre ground lease development, akron, OH 44319

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Medium Confidence

Low

$23.80/SF

Mid

$29.75/SF

High

$35.69/SF

Tier Used

tax_cap_reverse

Estimated from market cap rate (8.7%), property tax rate (0.03%), and wage-adjusted baseline.

Tier Resolution Trace

Tier 1insufficient_data

Tier 2successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$29.75/SF	—	tax_cap_reverse
Utilities	—	3.3¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1436/wk	BLS QCEW

Source Provenance (3)

Source	Type	Count	Year	Freshness	Peer
Market Reports	cap_rate	—	—	quarterly	—
API Ninjas	property_tax	—	—	annual	—
BLS QCEW	wage_index	—	—	quarterly	—

Data sources used

market_reportsproperty_taxwage_index

Description

Portage Lakes

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

1 acre ground lease development, akron, OH 44319

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2026, the Cleveland retail market showed a 4.4% vacancy rate, average asking rents near $16.16/SF/yr, and cap rates around 8.7%. Source: www matthews com Q1 2026 market report.

Projected current pricing

low confidence

Projected asking rent

$16.16/SF/yr

Estimated sale value

$115–$146/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 www matthews com data (cap rate 8.7%, asking rent held flat).

View the full Cleveland Retail market report →

Tight vacancy keeps competition for quality space elevated.

Compare it against other retail listings for sale in Akron, OH to benchmark pricing and space — view the full market.

Retail market FAQ

What is the typical cap rate for retail in Cleveland?: About 8.7% as of Q1 2026, per www matthews com.
Is the Cleveland retail market tightening or softening?: Vacancy is around 4.4% (Q1 2026).

Unified Estimate

Medium Confidence

$18.84/SF-$25.48/SF

Mid: $22.16/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

Sale Price History

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/yr) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.