5961 Andrews RdMentor-on-the-Lake, OH 44060

  • Retail properties
  • 11,620 SF
For Lease

Property Details for 5961 Andrews Rd

Year built
2000
Lot size
1.09 AC
Property size (Sq ft)
11,620 SF
Property type
Retail properties
Property subtype
Retail space
APN
19-A-092-0-00-026-0
APU
19A0920000260

Description

This exceptional retail storefront opportunity is located within the Lakeside Center Annex in Mentor-on-the-Lake, Ohio, at 5961 Andrews Rd, zip code 44060. The property is situated in Lake County and offers a single-tenant occupancy within a larger building. The total building size is an impressive 11,000 square feet, with 1,280 square feet currently available for lease. This space presents a unique chance for a business seeking a well-located, established storefront. The property's address is easily accessible and benefits from high visibility. The space is currently configured as a salon, offering a potential turnkey solution for a similar business, though it can be adapted to suit a variety of retail uses. The available space measures 1,280 square feet, providing ample room for operations and inventory. This is an ideal location for businesses seeking a strong presence in a thriving community. The property's location in Mentor-on-the-Lake offers access to a robust customer base and excellent local amenities. Interested parties are encouraged to inquire about lease terms and conditions. This is a rare opportunity to secure a well-positioned retail space in a desirable location. Don't miss out on this chance to establish or expand your business in a vibrant community.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,072,942
    6.5%
    $2,836,562
    7%
    $2,633,951
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,739,076
    Geo Method
    $2,739,076
  • Alternative Use

    Use
    Valuation
    Residential
    $2,392,746
    Hospitality
    $2,191,743
    Educational
    $1,823,504
    Medical
    $1,886,218
    Retail
    $2,836,562
5961 Andrews Rd, Mentor-on-the-Lake, Ohio

Location Insight

City
Mentor On The Lake
County
Lake
State
Ohio
Latitude
41.7089
Longitude
-81.3607
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$21,912
$115,790
$134,140
$249,930
-
$330,840
$383,270
$714,110

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