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Historical Retail Property with Outdoor Space

8455 Station Street Mentor, OH 44060

8455 Station Street, Mentor, OH, 44060

$575,000

For Sale

$575,000

Full-service restaurant, event/party center, and bar in Mentor, OH.

Property Size5,159 SF

Price / SF$111.46

AddedJul 24, 2024

Days on Market723

Last RefreshJun 29 at 9:31 pm

Property Features for 8455 Station Street

General Information

Standard status: Active
Size: 5,159 SF
Property subtype: SCR-COM

Building Details

Year Built: 1985

Listing office Keller Williams Realty Greater Cleveland Northeast

Listing date Jul 24, 2024

Source Realnex

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 Keller Williams Realty Greater Cleveland Northeast

Investment Insights

Based on property information with market context.

This historical retail property, located in Mentor, OH, offers 5,159 SF of space, complemented by an additional 3,500 SF of covered outdoor area. The property currently operates as a full-service restaurant, event/party center, and bar. It includes all equipment and a liquor license. Situated in a bustling area, the location is near the Great Lakes Mall, Mentor Civic Amphitheater, and Mentor Lagoons Nature Preserve, attracting both visitors and locals. The surrounding community provides diverse retail and dining opportunities, making it suitable for investors in the retail or restaurant industry.

Key Highlights

Full‑service restaurant, event/party center, and bar with large outdoor area.
Includes all equipment and liquor license.
Prime location in Mentor, OH, in the heart of the city.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$72.4k	$14.04
− Vacancy	−$3.3k	−$0.65
EGI	$69.1k	$13.39
− OpEx	−$20.7k	−$4.02
NOI	$48.4k	$9.38

5,159 SF · lease $14.04/SF/yr · vacancy 4.60% · expense 30.00%

Alternative Uses

Best Use

Specialty Retail

$791.0K

$692.1K – $922.8K (±1% cap)

NOI $55,369 @ 7.0% cap · market cap 9.63%

Second Best

Retail

$691.0K

$604.6K – $806.2K (±1% cap)

NOI $48,370 @ 7.0% cap · market cap 8.41%

Theoretical Best

Office A

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,408 @ 7.0% cap · market cap 14.51%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

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For sale
Restaurants
OH
Mentor
44060
8455 Station Street

What type of property is this?

Restaurant - Full-service restaurant, event/party center, and bar in Mentor, OH.

Where is this restaurant located?

The property is located at 8455 Station Street Mentor, OH.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Full‑service restaurant, event/party center, and bar with large outdoor area.; Includes all equipment and liquor license.; Prime location in Mentor, OH, in the heart of the city.