Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    8640-8660 Mentor Ave Mentor, OH

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

    Retail space in upscale Mentor shopping center, convenient location.

    Type:RETAIL
    Property size:
    1,600 SF
    Lot size:
    1.73 Acres
    Added:
    Aug 3, 2021
    Days on Market:
    1739
    Last Refresh:
    Apr 5 at 10:17 pm

    Property Features for 8640-8660 Mentor Ave

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Lot size
    1.73 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 8640-8660 Mentor Ave Contact us

    We can help!

    Listing Contact
    Rob Petronzio

    Listing agent Rob Petronzio

    Listing office Petronzio Management Company, LLC

    Listing date Aug 3, 2021

    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 Petronzio Management Company, LLC

    HighLights

    • Located in the Historical District of Mentor, Ohio.
    • Upscale retail strip shopping center.
    • Conveniently located on Mentor Ave., 1/2 mile east of RT 615.
    • Easy access to I‑90 & RT 2.
    • Built in 1998.
    • Home to established tenants including Mama Roberto's Italian Restaurant and Edible Arrangements.

    Overview

    Upscale Retail Space in Mentor

    Village Plaza is a retail strip shopping center situated in the Historical District of Mentor, Ohio. Constructed in 1998, Village Plaza houses tenants such as Mama Roberto's Italian Restaurant, Edible Arrangements, Farmers Insurance, and Tommy's Jerky & Smokies. The property is located on Mentor Ave., 1/2 mile east of RT 615, offering accessibility to I-90 & RT 2. The available retail space is 1600 square feet.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -81.3396
    Latitude
    41.6662

    Nearby Similar for Lease

    • $900/Mo

      Office Sublease in Mentor, OH

      Prime office sublease opportunity in Mentor, Ohio.
      7211 Center Street, Mentor, OH 44060
      View Details
    • $1.00 SF/Yr

      Prime Retail Space on Mentor

      Highly visible retail space in the Mentor Avenue Retail Corridor.
      7342 Mentor Avenue, Mentor, OH 44060
      View Details
    • $1.00 SF/Yr

      Prime Retail Corner in Mentor

      High-visibility retail space with drive-through potential and outdoor seating.
      7474 Mentor Avenue, Mentor, OH 44060
      View Details
    • $10 SF/Yr

      Industrial Space in Mentor, Ohio

      7,500 SF of versatile commercial space for lease.
      7154 Industrial Park Blvd, Mentor, OH
      View Details
    • $8 SF/Yr

      Flex Building Office Space Available

      2,967 SF office space in a multi-tenant flex building.
      6109 Heisley Road, Mentor, OH, 44060
      View Details
    • $20 SF/Yr

      Mentor Office Suites Available

      Office suites for lease with ample parking and convenient access.
      8300 Tyler Blvd, Mentor, OH
      View Details
    • Contact for pricing

      Northgate Plaza Retail Space Available

      Retail spaces for lease in high-traffic Mentor location.
      9201 Mentor Avenue, Mentor, OH, 44060
      View Details
    • $10 SF/Yr

      Retail Space on Mentor Avenue

      Retail space available in high-traffic Mentor Avenue location.
      7741-7747 Mentor Ave, Mentor, OH
      View Details
    • Contact for pricing

      Freestanding Retail Building with Drive-Thru

      1,788 SF retail building with drive-thru near Great Lakes Mall.
      7652 Mentor Avenue, Mentor, OH, 44060
      View Details
    • $7 SF/Yr

      Warehouse Space in Mentor, Ohio

      8,600 SF warehouse space available for sublease until 2026.
      7640 Tyler Blvd, Mentor, OH 44060
      View Details
    • $1,200/Mo

      Flex Space with Drive-In Door

      Flex space with convenient location and renovations coming soon!
      8762-8774 Tyler Blvd, Mentor, OH
      View Details
    • $14 SF/Yr

      Retail Space in Mentor, OH

      Retail space available in a developed retail market.
      9676 Mentor Avenue, Mentor, OH
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space in upscale Mentor shopping center, convenient location.
    Where is this strip mall located?
    The property is located at 8640-8660 Mentor Ave Mentor, OH.
    What are key features of this property?
    This property features: Located in the Historical District of Mentor, Ohio.; Upscale retail strip shopping center.; Conveniently located on Mentor Ave., 1/2 mile east of RT 615.
    (440) 729-8200 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rob Petronzio
    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
    8640-8660 Mentor Ave, 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!