8224 Mentor AveMentor, OH 44060

Property Details for 8224 Mentor Ave

Year built

1973

Construction

WOOD

Lot size

2.72 AC

Property size (Sq ft)

31,288 SF

Zone code

R-2

Property type

Medical offices

Property subtype

Medical centers

APN

16-A-010-D-00-012-0

APU

16A010D000120

Description

This exceptional investment opportunity presents two, two-story brick buildings situated on a 3.474-acre lot in the desirable Mentor Office Park. Built in 1973, this Class B property offers a total of 166 parking spaces, ensuring ample convenience for tenants and visitors. The property is zoned R-2 and features a mix of professional and medical office tenants, creating a diverse and stable tenant base. Currently, one suite of 1,809 square feet is available for lease. The buildings boast a park-like setting, enhancing the professional atmosphere. Located at 8224 Mentor Avenue in Mentor, Ohio (zip code 44060), this property enjoys a prime location directly across from the public library, providing excellent visibility and accessibility. Its convenient proximity to I-90 and public transportation ensures easy commutes for employees and clients. The property's APN numbers are 16A010D000120 and 16A010D000280, located in Lake County, Ohio. This is a rare opportunity to acquire a well-maintained, established medical office complex in a high-demand location. The property's strong location and existing tenant base make it an attractive investment for both seasoned and new investors seeking a stable and growing income stream. The total number of suites within the buildings is not currently specified.

• CAP approach

  CAP return

  Valuation

  6%

  $5,628,708

  6.5%

  $5,195,731

  7%

  $4,824,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,926,680

  Geo Method

  $2,926,680

• Alternative Use

  Use

  Valuation

  Residential

  $6,442,706

  Hospitality

  $5,901,484

  Educational

  $4,909,966

  Medical

  $5,078,827

  Retail

  $7,637,724

Location Insight

City

Mentor

County

Lake

State

Ohio

Latitude

41.664

Longitude

-81.3464

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].