Renovated Freestanding Office
For Sale
$899,900
8425 Station St, Mentor, OH 44060
Renovated freestanding building with multiple private offices, private restrooms, conference space, and an open showroom floor.
Property Size7,200 SF
Price / SF$124.99
Days on Market96
Property Features for 8425 Station St
General Information
Standard status
Active
Size
7,200 SF
Taxes and HOA fees
Annual Taxes
$11,126
Amenities
private offices
private bathrooms
conference room
copier/meeting room
showroom floor
Listing Agency:
Real of Ohio
(855) 450-0442
Listed By:
Michael Kaim · License #430767
(440) 796-0425
Source:
Exprealty
Added: Jun 2
Changed: Aug 20
Last Checked: Sep 4 at 1:17PM
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 Real of Ohio
Investment Insights
Based on property information with market context.
Situated along a high-visibility corridor, this fully renovated freestanding commercial building is configured for either retail-facing showroom use or a professional office environment. The interior features twelve bright private offices, four well-placed private bathrooms, a large conference room with polished concrete floors, high ceilings, and a wall-mounted presentation screen, plus an oversized copier/meeting room that can support a variety of day-to-day needs.
A dedicated showroom floor provides open, client-facing space suitable for product displays or open-concept work environments. The property includes updated interior and exterior finishes, modern lighting, and stylish furniture options described as turnkey for immediate occupancy.
Ample parking supports convenient access for employees and visitors, and the exterior renovation is designed to present a contemporary facade to passersby.
A dedicated showroom floor provides open, client-facing space suitable for product displays or open-concept work environments. The property includes updated interior and exterior finishes, modern lighting, and stylish furniture options described as turnkey for immediate occupancy.
Ample parking supports convenient access for employees and visitors, and the exterior renovation is designed to present a contemporary facade to passersby.
Key Highlights
- Renovated freestanding commercial building with 7,200 SF designed for retail or professional office use
- Includes 12 private offices with contemporary finishes and private restroom access
- Four private bathrooms plus a large conference room with polished concrete floors and high ceilings
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
$67,507
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
7.50%
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%
$1,350,140
$1.4M
Cap Rate 7%
$964,386
$964.4K
Cap Rate 9%
$750,078
$750.1K
Market Conditions
NOI Build-Up for 7,200 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
$101.1K $14.04/SF
− Vacancy
−$4.7K −$0.65/SF
EGI
$96.4K $13.39/SF
− OpEx
−$28.9K −$4.02/SF
NOI
$67.5K $9.38/SF
Area
Lake County, OH
Vacancy
4.60%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,350,140
Cap Rate 7%
$964,386
Cap Rate 9%
$750,078
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,191 @ 7.0% cap · market cap 10.13%
Second Best
Retail
$964.4K
$843.8K – $1.13M
NOI $67,507 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,406 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
885
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated freestanding building with multiple private offices, private restrooms, conference space, and an open showroom floor.
Where is this office building located?
The property is located at 8425 Station St Mentor, OH.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Renovated freestanding commercial building with 7,200 SF designed for retail or professional office use; Includes 12 private offices with contemporary finishes and private restroom access; Four private bathrooms plus a large conference room with polished concrete floors and high ceilings
