7488 Mentor AveMentor, OH 44060
- Retail properties
- 10,736 SF
Property Details for 7488 Mentor Ave
- Year built
- 1977
- Lot size
- 0.58 AC
- Property size (Sq ft)
- 10,736 SF
- Zone code
- B-2
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 16-A-001-D-00-005-0
- APU
- 16A001D000050
Description
This exceptional 1.437-acre retail development opportunity is located at 7488 Mentor Avenue in Mentor, Ohio, 44060. The property features a single, one-story Class B building constructed in 1977 and renovated in 1990. Currently, there is 1,764 square feet of retail space immediately available for lease, with the potential for expansion up to 4,000 square feet. The site boasts excellent visibility from Mentor Avenue. The property is zoned B-2, allowing for a variety of retail uses. The parcel includes two APNs: 16A001D000040 and 16A001D000050. While the existing building offers significant potential, the large lot size presents a unique opportunity for new construction or redevelopment. The property's location in Mentor, Ohio provides access to a strong consumer base and convenient access to major transportation routes. The site currently has no designated parking spaces, however, ample parking solutions can be explored as part of any development plan. This is an ideal location for businesses seeking high visibility and convenient access for customers. The property is ready for an investor or developer to capitalize on its potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,839,166
- 6.5%
- $2,620,769
- 7%
- $2,433,571
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,530,698
- Geo Method
- $2,530,698
-
Alternative Use
- Use
- Valuation
- Residential
- $2,210,716
- Hospitality
- $2,025,004
- Educational
- $1,684,780
- Medical
- $1,742,722
- Retail
- $2,620,769
Location Insight
- City
- Mentor
- County
- Lake
- State
- Ohio
- Latitude
- 41.6545
- Longitude
- -81.3737
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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