Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8405 Munson Rd Mentor, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    7,745 SF building on 1.95 acres with expansion potential.

    Type:RETAIL
    Property size:
    7,765 SF
    Lot size:
    1.95 Acres
    Price / SF:
    $127/SF
    Added:
    Jan 17, 2025
    Days on Market:
    469
    Last Refresh:
    Apr 5 at 11:11 pm

    Property Features for 8405 Munson Rd

    General Information

    Standard status
    Active
    Size
    7,765 SF
    Lot size
    1.95 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Bob Gross

    Listing agent Bob Gross

    Listing office JLL | Cleveland

    Listing date Jan 17, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of JLL | Cleveland

    Overview

    Freestanding Building with Vacant Land

    This is a freestanding building featuring 7,745 square feet of available space on a 1.95-acre lot. The property includes vacant land suitable for expansion. It offers convenient access just off Center Street and provides over 50 free surface parking spots. The building is in move-in ready condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.3386
    Latitude
    41.7

    Nearby Similar for Sale

    • $849,000

      Flex/Warehouse Building in Mentor, OH

      Flex/warehouse building with office and warehouse space for sale.
      9436 Hamilton Drive, Mentor, OH 44060
      View Details
    • $399,999

      Charming Historic Mentor Duplex

      Well-maintained duplex with potential for triplex conversion in Mentor, OH.
      7224 Burridge Avenue, Mentor, OH 44060
      View Details
    • $575,000

      Historical Retail Property in Mentor

      5,159 SF retail property with outdoor space for sale/lease.
      8455 Station Street, Mentor, OH 44060
      View Details
    • $299,000

      Turnkey Restaurant Opportunity in Mentor

      Freestanding building with patio, equipment, and parking included.
      7224 Center Street, Mentor, OH 44060
      View Details
    • $849,000
      10,200 SF

      Flex/Warehouse Building with Office Space

      10,200 SF flex/warehouse building with office and rental units.
      9436 Hamilton Drive, Mentor, OH 44060
      View Details
    • $575,000
      5,159 SF

      Mentor Retail & Restaurant Opportunity

      Established restaurant, event center, and bar with liquor license.
      8455 Station St, Mentor, OH 44060
      View Details
    • $899,000
      2,992 SF

      Restaurant/Bar/Retail Site For Sale

      Restaurant, bar, and retail site with renovated space and outdoor patio.
      9528 Diamond Centre Dr, Mentor, OH
      View Details
    • $900,000
      6,000 SF

      Mentor Investment Property For Sale

      6,000 SF building with long-term daycare tenant in place.
      6970 Heisley Rd, Mentor, OH 44060
      View Details
    • $345,240
      11,508 SF

      Tyler Blvd Flex/Warehouse Opportunity

      Office and warehouse space available on Tyler Blvd.
      8822 Tyler Blvd, Mentor, OH
      View Details
    • $1,400,000
      4,745 SF

      Former Day Care on Mentor

      4,745 SF former day care on 0.64 AC lot.
      9055 Mentor Ave, Mentor, OH
      View Details
    • $675,000
      3,880 SF

      Unique Spa and Wellness Opportunity

      Turnkey spa and wellness business with real estate for sale.
      9124-9146 Tyler Blvd, Mentor, OH
      View Details
    • $475,000
      3,335 SF

      Established Medical Practice For Sale

      Medical practice with equipment and staff on high-traffic street.
      7439 Tyler Blvd, Mentor, OH
      View Details

    FAQs

    What type of property is this?
    Storefront property - 7,745 SF building on 1.95 acres with expansion potential.
    Where is this storefront property located?
    The property is located at 8405 Munson Rd Mentor, OH.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: 7,745 SF move‑in ready freestanding building.; 1.95 acres including vacant land for expansion.; 50+ free surface parking spots.
    (216) 861-7171 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bob Gross
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    8405 Munson Rd, Mentor, OH

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!