8640 Mentor AveMentor, OH 44060

Property Details for 8640 Mentor Ave

Year built

1999

Lot size

1.73 AC

Property size (Sq ft)

16,800 SF

Zone code

B-2

Property type

Retail properties

Property subtype

Retail space

APN

16-A-012-G-00-004-0

APU

16A012G000040

Description

Village Plaza, a Class B retail center in Mentor, Ohio's historic district, offers a prime opportunity. This 1.73-acre property features two single-story buildings constructed in 1999 and renovated in 2004. Currently, one 1,600 square foot retail space is available for lease within this established center, boasting a strong tenant mix including Mama Roberto's Italian Restaurant, Edible Arrangements, Farmers Insurance, and Tommy's Jerky & Smokies. The property is zoned B-2, providing flexibility for a variety of retail uses. Its convenient location on Mentor Avenue, just half a mile east of Route 615, ensures excellent visibility and accessibility. The site benefits from easy access to I-90 and Route 2, providing convenient access for customers and employees. While the property currently has no designated parking spaces listed, the ample space within the center and surrounding area should be considered. The property's APN is 16A012G000040, located in Lake County. This is an exceptional opportunity to establish or expand a retail business in a thriving, well-established location. The property's history of successful tenants speaks to its desirability and potential for continued growth.

• CAP approach

  CAP return

  Valuation

  6%

  $4,442,808

  6.5%

  $4,101,054

  7%

  $3,808,122

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,960,110

  Geo Method

  $3,960,110

• Alternative Use

  Use

  Valuation

  Residential

  $3,459,392

  Hospitality

  $3,168,785

  Educational

  $2,636,392

  Medical

  $2,727,061

  Retail

  $4,101,054

Location Insight

City

Mentor

County

Lake

State

Ohio

Latitude

41.6702

Longitude

-81.3305

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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