7488 Mentor AveMentor, OH 44060

  • Retail properties
  • 10,736 SF
For Lease

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
7488 Mentor Ave, Mentor, Ohio

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

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
$14,046
$80,010
$112,620
$192,630
-
$228,600
$321,780
$550,380

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].