8666 Mentor AveMentor, OH 44060

Property Details for 8666 Mentor Ave

Year built

1948

Lot size

0.70 AC

Property size (Sq ft)

7,520 SF

Zone code

B-2

Property type

Retail space

APN

16-A-018-C-00-031-0

APU

16A018C000310

Description

This exceptional 7,520-square-foot retail property at 8666 Mentor Avenue in Mentor, Ohio, presents a remarkable investment opportunity. Located in a high-traffic area with excellent visibility on Mentor Avenue, this space boasts a prime location and significant historical presence as the former home of Pummel's Home Furnishings for 70 years. The property sits on a 0.7-acre lot and is zoned B-2 (commercial), offering a wide range of permitted uses. These include, but are not limited to, fast food establishments, office spaces, daycare centers, sit-down restaurants, creameries, and various mercantile businesses. The sale includes a large trailer and a smaller garage, adding significant value and potential for diverse uses. Convenient shared parking and drive access are available via the neighboring property to the east. The existing roof is a rolled roofing system, complemented by metal gutters on both sides of the building. This property's size, location, and zoning flexibility make it an ideal choice for a variety of commercial ventures. The history and established presence on Mentor Avenue provide a strong foundation for future success. This is a rare opportunity to acquire a substantial retail space in a thriving Ohio community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,988,686

  6.5%

  $1,835,710

  7%

  $1,704,588

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,772,620

  Geo Method

  $1,772,620

• Alternative Use

  Use

  Valuation

  Residential

  $1,548,490

  Hospitality

  $1,418,408

  Educational

  $1,180,099

  Medical

  $1,220,685

  Retail

  $1,835,710

Location Insight

City

Mentor

County

Lake

State

Ohio

Latitude

41.6705

Longitude

-81.3298

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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