Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    8537 Mentor Ave Mentor, OH 44060-5821

    • Banks
    • 7,062 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2022
    $475,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2387581
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Banks

    Property Details for 8537 Mentor Ave

    Year built
    1924
    Lot size
    0.90 lot acres
    Property size
    7,062 SF
    Zone code
    B-2
    Property type
    Banks
    APN
    16-B-046-0-00-019-0
    APU
    16B0460000190

    Description

    This exceptional investment opportunity presents a fully remodeled 6,214 square foot retail building situated on a 1.25-acre lot at 8537 Mentor Avenue in Mentor, Ohio. The property underwent a complete renovation in 2023, including a brand-new HVAC system, ensuring modern and efficient operation. Currently occupied by a tenant under a lease extending until September 30, 2029, this provides immediate and consistent cash flow. The property boasts ample parking with 45 spaces available, ensuring convenient access for customers and employees. Adding to its versatility, the property includes a former ATM building, offering potential for expansion or alternative use. The annual city light assessment is a modest $188.37. This turnkey retail center is ideally located in the heart of Mentor, offering excellent visibility and accessibility. The combination of a strong lease, recent renovations, and ample parking makes this a highly attractive investment opportunity with significant potential for long-term growth and return. The property's size and features make it suitable for a variety of retail uses, providing flexibility for future tenants or owners. This is a rare chance to acquire a well-maintained, income-producing retail property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.3347
    Latitude
    41.6692
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,209
    $122,850
    $17,150
    $140,000
    -
    $351,000
    $49,000
    $400,000

    Comparable in this City

    • Value Estimation by Request
      4,482 SF

      9571 Mentor Ave

      FINANCIAL BUILDING • 4,482 SF
      9571 Mentor Ave, Mentor, OH 44060-4521
      View Details
    • Value Estimation
      $160,000
      12,406 SF

      8715 Mentor Ave

      FINANCIAL BUILDING • 12,406 SF
      8715 Mentor Ave, Mentor, OH 44060-6103
      View Details
    • Value Estimation
      $300,000
      4,192 SF

      6675 Ctr St

      FINANCIAL BUILDING • 4,192 SF
      6675 Ctr St, Mentor, OH 44060-4113
      View Details
    • Value Estimation
      $290,000
      13,200 SF

      7800 Reynolds Rd

      FINANCIAL BUILDING • 13,200 SF
      7800 Reynolds Rd, Mentor, OH 44060-5324
      View Details
    • Value Estimation
      $240,000
      3,120 SF

      6081 Andrews Rd

      FINANCIAL BUILDING • 3,120 SF
      6081 Andrews Rd, Mentor On The Lake, OH 44060-2821
      View Details
    • Value Estimation
      $235,000
      3,156 SF

      7323 Ctr St

      FINANCIAL BUILDING • 3,156 SF
      7323 Ctr St, Mentor, OH 44060-5801
      View Details

    Similar Nearby for Sale

    • $925,000
      2.15 Acres

      Prime Mentor Development Site

      2.15 Acres, High-Traffic Location
      8366 Tyler Blvd, Mentor, OH 44060
      View Details
    • $995,000
      2,992 SF

      Restaurant/Bar/Retail Site For Sale

      Restaurant, bar, and retail site with renovated space and outdoor patio.
      9528 Diamond Centre Dr, Mentor, OH 44060
      View Details
    • $550,000
      0.85 Acres

      Redevelopment Opportunity in Mentor, Ohio

      Free-standing building and single-family dwelling ideal for retail redevelopment.
      9047 Mentor Ave, Mentor, OH 44060
      View Details
    • $299,000
      0.20 Acres

      Turnkey Restaurant Opportunity in Mentor

      Freestanding building with retail/restaurant space and patio in Mentor.
      7224 Center St, Mentor, OH 44060
      View Details
    • $990,000
      7,765 SF

      Freestanding Building with Vacant Land

      7,745 SF building on 1.95 acres with expansion potential.
      8405 Munson Rd, Mentor, OH 44060
      View Details
    • $900,000
      1.36 Acres

      Daycare Investment Property For Sale

      6,000 SF building with long-term daycare tenant in Mentor, OH.
      6970 Heisley Rd, Mentor, OH 44060
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Trask Plaza: ATM Outlot Land

      Fully Leased Retail Land, Prime Location
      9560 Diamond Centre Dr, Mentor, OH 44060
      View Details
    • Contact for pricing
      65,100 SF

      Mentor Retail Space Available

      High-traffic retail spaces, ideal for large tenants.
      7721-7723 Mentor Ave, Mentor, OH 44060
      View Details
    • $15 SF/Yr
      1,500 SF

      Center Station Plaza Retail Space

      1,500 SF Retail Space in Mentor, OH
      7247 Center St, Mentor, OH 44060
      View Details
    • Contact for pricing
      87,965 SF

      Great Lakes Plaza Retail Spaces

      Prime Mentor, OH retail spaces available.
      7960 Plaza Blvd, Mentor, OH 44060
      View Details
    • Contact for pricing
      185,102 SF

      Points East: Premier Retail Center

      Mentor, OH: High-traffic retail spaces available.
      7289 Mentor Ave, Mentor, OH 44060
      View Details
    • $10 SF/Yr
      7,856 SF

      Prime Mentor Retail Space

      High-traffic retail space, excellent visibility.
      9201 Mentor Ave, Mentor, OH 44060
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8537 Mentor Ave
    Mentor, OH 44060-5821
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.