What is the average asking rent for retail space in Cleveland?

As of Q1 2026, the average asking rent for retail space in Cleveland was $16.16/SF, per Matthews.

What is the retail vacancy rate in Cleveland?

The retail vacancy rate in Cleveland was 4.4% as of Q1 2026 (Matthews).

Where does PropZone's Cleveland market data come from?

This report aggregates quarterly retail market data for Cleveland from Matthews, Cushman & Wakefield.

Cleveland Retail Market Report

By PropZone Research · Data through Q1 2026 · Aggregated from Matthews, Cushman & Wakefield

Quarterly retail market indicators for Cleveland, aggregated by PropZone from Matthews, Cushman & Wakefield. As of Q1 2026, average asking rent was $16.16/SF with a 4.4% vacancy rate.

Projected current retail pricing — Cleveland

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 Matthews data (cap rate 8.7%, asking rent held flat). Assumes ~96% occupancy and a 65–82% net-operating-income margin.

Quarter	Asking rent	Vacancy	Net absorption	Under constr.	Source
Q1 2026	$16.16/SF	4.4%	107K SF	—	Matthews
Q2 2018	$9.96/SF	16.2%	—	—	Cushman & Wakefield

Frequently asked questions

What is the average asking rent for retail space in Cleveland?: As of Q1 2026, the average asking rent for retail space in Cleveland was $16.16/SF, per Matthews.
What is the retail vacancy rate in Cleveland?: The retail vacancy rate in Cleveland was 4.4% as of Q1 2026 (Matthews).
Where does PropZone's Cleveland market data come from?: This report aggregates quarterly retail market data for Cleveland from Matthews, Cushman & Wakefield.

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