1640 Mentor Ave, Painesville, OH 44077
Well-located retail building with two leased suites and substantial parking along Mentor Avenue and Clairmont Drive.
- Added:
- Jun 18, 2026
- Days on Market:
- 7
- Last Refresh:
- Jun 24 at 2:45 am
Property Features for 1640 Mentor Ave
General Information
- Standard status
- Active
- Size
- 3,154 SF
- Lot size
- 0.34 Acres
- Property subtype
- Retail
Listing agent Allison Giomuso License #SAL 2015005765
Listing office Anchor Retail (440) 364-5626
Listing date Jun 18, 2026
Source Crexi
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 Anchor Retail
HighLights
- Two‑tenant retail building totaling 3,154 SF in Painesville Township, OH at 1640 Mentor Ave
- Master Pizza suite is 1,800 SF and recently renewed its lease
- Electronics Flip suite is 1,354 SF and recently renewed its lease
- 0.34‑acre site with 65' frontage on Mentor Ave and 73' frontage on Clairmont Dr
- Zoned B‑3 Commercial and offers 27 parking spaces
- Two leased suites in a retail building with no local income tax
Overview
The property fronts Mentor Ave and also has frontage on Clairmont Dr, with 65 feet on Mentor Ave and 73 feet on Clairmont Dr. It is zoned B-3 Commercial and is described as having no local income tax.
For buyers looking for retail income, this asset offers a straightforward, two-suite setup with current, renewed tenants already in place. The configuration and on-site parking are conducive to a range of neighborhood and convenience-oriented retail users that benefit from direct drive-up access along these primary frontages.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.3k | $14.04 |
| − Vacancy | −$2.0k | −$0.65 |
| EGI | $42.2k | $13.39 |
| − OpEx | −$12.7k | −$4.02 |
| NOI | $29.6k | $9.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Painesville
- County
- Lake
- State
- Ohio
- Longitude
- -81.2795702
- Latitude
- 41.6977735
