8455 Station StMentor, OH 44060

Property Details for 8455 Station St

Year built

1985

Lot size

0.62 AC

Property size (Sq ft)

5,159 SF

Zone code

M-1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

16-B-039-A-00-022-0

APU

16B039A000220

Description

This exceptional 5,159 square foot retail property, situated on a 2.05-acre lot at 8455 Station Street in Mentor, Ohio, presents a unique investment opportunity. The property boasts a rich history and currently operates as a full-service restaurant, event/party center, and bar. Its prime location in the heart of Mentor ensures high visibility and foot traffic. The building's versatility is further enhanced by an additional 3,500 square feet of covered outdoor space, perfect for al fresco dining or event hosting. All existing equipment and a valuable liquor license are included in the sale price of $725,000. This turnkey operation benefits from its proximity to key attractions such as the Great Lakes Mall, Mentor Civic Amphitheater, and Mentor Lagoons Nature Preserve, drawing a consistent stream of customers from both local residents and tourists. The surrounding area is characterized by a diverse mix of retail and dining establishments, creating a vibrant and bustling commercial environment. This property is ideally suited for investors seeking a profitable venture in the retail or restaurant sector, offering a blend of established business and significant growth potential within a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,364,312

  6.5%

  $1,259,365

  7%

  $1,169,411

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,216,084

  Geo Method

  $1,216,084

• Alternative Use

  Use

  Valuation

  Residential

  $1,062,322

  Hospitality

  $973,081

  Educational

  $809,592

  Medical

  $837,435

  Retail

  $1,259,365

Location Insight

City

Mentor

County

Lake

State

Ohio

Latitude

41.6788

Longitude

-81.3382

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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