5967 Andrews RdMentor-on-the-Lake, OH 44060

  • Retail properties
  • 21,000 SF
For Sale
$1,917,000 View listing

Property Details for 5967 Andrews Rd

Year built
2002
Construction
WOOD
Lot size
3.61 AC
Property size (Sq ft)
21,000 SF
Property type
Retail properties
Property subtype
Retail space
APN
19-A-092-0-00-028-0
APU
19A0920000280

Description

This exceptional retail space, located on the bustling Kaliste Saloom Road in Lafayette Parish, Louisiana, presents a fantastic opportunity for businesses seeking high visibility and foot traffic. Part of the Gate of Orleans complex, this Class B property offers a single available storefront suite measuring 1,835 square feet. The building is a single-story structure with a total of three suites, providing a manageable and community-oriented environment. The vacant space boasts a modern layout, ideal for a variety of retail or service-based businesses. Its prominent location amongst popular restaurants ensures high visibility and convenient access for both pedestrians and drivers. The suite is move-in ready, eliminating the need for extensive renovations and allowing for a quick start to operations. This is an excellent chance to establish or expand a business in a thriving commercial area with significant potential for growth. The total building size is not specified, but there are 3,732 square feet currently vacant. This prime retail location offers an unparalleled opportunity to capitalize on the high traffic volume and strong local economy. The suite's storefront entrance is designed to maximize customer visibility and accessibility. Don't miss this chance to secure a space in a vibrant and successful commercial center.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,553,510
    6.5%
    $5,126,318
    7%
    $4,760,152
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,950,137
    Geo Method
    $4,950,137
  • Alternative Use

    Use
    Valuation
    Residential
    $4,324,240
    Hospitality
    $3,960,981
    Educational
    $3,295,490
    Medical
    $3,408,827
    Retail
    $5,126,318
5967 Andrews Rd, Mentor-on-the-Lake, Ohio

Location Insight

City
Mentor On The Lake
County
Lake
State
Ohio
Latitude
41.7087
Longitude
-81.3595
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
$25,888
$95,800
$184,210
$280,010
-
$273,700
$526,300
$800,000

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