Mixed Use Investment / ReDevelopment Opportunity


•This investment opportunity offers four freestanding buildings on three parcels with a retail/office mix, long term redevelopment opportunity. •Located on Mentor Avenue in Mentor, OH, at the corner of Murray Ave. the property benefits from approximately 22,000 vehicles drive by per day. •Nearby retailers include Meijer's, Walmart, McDonald's, Dairy Queen, CVS, Applebee's Grill, Chipotle, Panda Express, T-Mobile, Huntington Bank, Bob Evans, Staples, Starbucks, Walgreens, Taco Bell, Kohl's, Chick-fil-A, Lowe's Home Improvements, Arby's, Target, Goodwill, Bed Bath & Beyond, Great Lakes Mall and many more.


Property Type: Retail
Building Class: B
Cap Rate Percentage: 6.25
Listing ID: 24P277
MLS ID: 388469
Style: Other Style
Building Size: 10,900 SF
Lot Size: 1.23 AC

Property Highlights

OWNER / USER OPPORTUNITY by using existing vacancy for buyer's existing business

VALUE - ADD INVESTMENT OPPORTUNITY in well-located multi-tenant property with effective leasing strategies

REDEVELOPMENT of 1.23 acres of commercial space.

Property Features
Location: •Mentor is located in the eastern suburbs, approximately 20 miles east of downtown Cleveland. •As of 2012, Mentor was ranked the 6th largest retail market in Ohio. •Surrounding the city are multiple national and international corporations, business and schools employing thousands of workers daily. Some of these include Parker-Hannifin Corporation, Avery Dennison Corporation, Lincoln Electric Holdings, Inc., Lake Health System, Inc., FirstEnergy Corp., STERIS Corporation, and The Lubrizol Corporation. • Religious Gifts is located on Mentor Avenue at the corner of Murray Ave. just east of SR 615 / Center St. and in the heart of Mentor. •This location provides easy access to local shopping, dining, medical facilities and schools. •Just minutes from I-90 and SR 2, this corner location also offers easy access to the entire Cleveland Metropolitan.
Financials
Down Payment: $250,000
Gross Income: $81,900
Expenses: $31,891
Loan Payment: $43,557
Additional Media Area Demographics