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 Market193
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
(216) 219-4241
Listed By:
Mark Truesdell · License #OH2109006434
Source:
Crexi
Added: Feb 19
Changed: Aug 30
Last Checked: Aug 30 at 9:01PM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$191,631
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
