Light-Manufacturing
For Sale
Contact for pricing
7420 Clover Ave, Mentor, OH 44060
The property carries M-1; Light-Manufacturing zoning.
Property Size41,000 SF
Price / SF$73.17
Days on Market239
Property Features for 7420 Clover Ave
General Information
Standard status
Active
Size
41,000 SF
Property subtype
Industrial
Zoning
M-1; Light-Manufacturing
Building Details
Year Built
2003
Listing Agency:
CBRE - Cleveland
Listed By:
Mark Truesdell · License #OH2109006434
(216) 219-4241
Source:
Crexi
Added: Feb 19
Changed: Oct 10
Last Checked: Oct 14 at 10:49PM
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 CBRE - Cleveland
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Investment Insights
Based on property information with market context.
This manufacturing property includes 41,000 square feet of building area on a 4.9357-acre parcel. Constructed in 2003, the facility is identified with M-1; Light-Manufacturing zoning. The property’s prior use was Hadrian Manufacturing.
Key Highlights
- 41,000 square feet of building area
- 4.9357‑acre parcel
- M‑1; Light‑Manufacturing zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,631
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,832,620
$3.8M
Cap Rate 7%
$2,737,586
$2.7M
Cap Rate 9%
$2,129,233
$2.1M
Market Conditions
NOI Build-Up for 41,000 SF
Gross rent
$234.1K $5.71/SF
− Vacancy
−$8.7K −$0.21/SF
EGI
$225.4K $5.50/SF
− OpEx
−$33.8K −$0.82/SF
NOI
$191.6K $4.67/SF
Area
Lake County, OH
Vacancy
3.70%
Lease Rate
$5.71 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,832,620
Cap Rate 7%
$2,737,586
Cap Rate 9%
$2,129,233
Alternative Uses
Best Use
Warehouse
$2.74M
$2.40M – $3.19M
NOI $191,631 @ 7.0% cap · market cap 6.39%
Second Best
Industrial
$2.25M
$1.97M – $2.63M
NOI $157,814 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$9.47M
$8.29M – $11.05M
NOI $662,866 @ 7.0% cap · market cap 22.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 44060, OH
60,360
Population
27,276
Households
2.2
Avg Household Size
47
Median Age
35%
College-Educated
96%
High-School Grad
39.9 sq mi
ZIP Area
1,513
Density / Sq Mi
$85,881
Median Household Income
$51,736
Median Earnings
$1,156
Median Rent
$227,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - The property carries M-1; Light-Manufacturing zoning.
Where is this manufacturing property located?
The property is located at 7420 Clover Ave Mentor, OH.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 41,000 square feet of building area; 4.9357‑acre parcel; M‑1; Light‑Manufacturing zoning
