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    Property profile & analytics

    7520 Clover Ave Mentor, OH 44060

    • Flex space
    • 15,575 SF
    • 1.32 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1681481
    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

    • Flex space

    Property Details for 7520 Clover Ave

    Year built
    1975
    Lot size
    1.32 lot acres
    Property size
    15,575 SF
    Zone code
    M-1
    Property type
    Flex space
    APN
    16-B-031-D-02-001-0
    APU
    16B031D020010

    Description

    This exceptional industrial property, located at 7520 Clover Ave in Mentor, Ohio, 44060, offers 15,824 total square feet of versatile flex and manufacturing space. The building features one drive-in door for convenient loading and unloading. Currently, there are two available spaces totaling 2,770 square feet of vacant space, with additional space potentially available. The available spaces range in size from 2,700 to 7,429 square feet, providing flexibility for various business needs. The property is situated on Tyler Blvd and Clover Ave, offering excellent accessibility. Its strategic location provides convenient access to both Interstate 90 and State Route 2, ensuring seamless transportation and logistics. This highly sought-after flex space presents a unique opportunity for businesses seeking a prime location in the thriving Mentor, Ohio market. The property's multiple tenancy allows for diverse occupancy options. This is an ideal location for businesses requiring both office and warehouse space, offering a blend of functionality and convenience. Don't miss this chance to secure your space in this desirable industrial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $617,000
      Market price range: $488k - $915k
      AI Estimate
      $315,000
      Market price range: $207k - $574k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $690,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.3724
    Latitude
    41.6633
    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
    $11,931
    $61,900
    $101,720
    $163,620
    -
    $176,850
    $290,640
    $467,490

    Comparable in this City

    • Value Estimation by Request
      10,000 SF

      8631 Tyler Blvd

      Flex space • 10,000 SF
      8631 Tyler Blvd, Mentor, OH 44060
      View Details
    • Value Estimation by Request
      9,054 SF

      9535 Jackson St

      LIGHT INDUSTRIAL • 9,054 SF
      9535 Jackson St, Mentor, OH 44060
      View Details
    • Value Estimation by Request
      16,600 SF

      7165 Ctr St

      LIGHT INDUSTRIAL • 16,600 SF
      7165 Ctr St, Mentor, OH 44060-4987
      View Details
    • Value Estimation
      $560,000
      7,700 SF

      8521 Ee Ave

      LIGHT INDUSTRIAL • 7,700 SF
      8521 Ee Ave, Mentor, OH 44060-4358
      View Details
    • Value Estimation by Request
      8,188 SF

      8572 Ee Ave

      LIGHT INDUSTRIAL • 8,188 SF
      8572 Ee Ave, Mentor, OH 44060-4302
      View Details
    • Value Estimation by Request
      5,000 SF

      8767 Ee Ave

      LIGHT INDUSTRIAL • 5,000 SF
      8767 Ee Ave, Mentor, OH 44060-4303
      View Details

    Similar Nearby for Sale

    • $1,500,000
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      14,000 SF Flex Space Building

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    • $1,035,720
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      Tyler Blvd Flex/Warehouse Opportunity

      Office and warehouse space available on Tyler Blvd.
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    • $648,000
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    • $2,495,000
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      High-Quality Manufacturing Property in Mentor

      31,745 SF manufacturing property with ample parking.
      7770 Division Dr, Mentor, OH 44060
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    • $150,000
      1.24 Acres

      Mentor Industrial Land - $150K

      1.24-acre M1-zoned lot, prime location.
      8695 Twinbrook Rd, Mentor, OH 44060
      View Details
    • $169,000
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      Mentor Industrial Land - $169K

      2.23-acre industrial lot, prime location.
      9340 Pineneedle Dr, Mentor, OH 44060
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    Similar Nearby for Lease

    • Contact for pricing
      15,824 SF

      Mentor Industrial Flex Space

      Prime Mentor location, flexible space available.
      7520 Clover Ave, Mentor, OH 44060
      View Details
    • Contact for pricing
      10,000 SF

      Mentor, OH Industrial Warehouse Duo

      10,000 SF Warehouse/Flex Space Available
      8631 Tyler Blvd, Mentor, OH 44060
      View Details
    • Contact for pricing
      50,000 SF

      Mentor, OH Industrial Property

      50,000 SF Multi-Tenant Manufacturing/Flex Space
      7471 Tyler Blvd, Mentor, OH 44060
      View Details
    • $1,200 /Mo
      1,600 SF

      Flex Space with Drive-In Door

      Flex space with convenient location and renovations coming soon!
      8762-8774 Tyler Blvd, Mentor, OH 44060
      View Details
    • $204 SF/Yr
      4,780 SF

      Mentor Office & Industrial Space

      Flexible Suites, 100-2260 sq ft
      7840 Tyler Blvd, Mentor, OH 44060
      View Details
    • $6 SF/Yr
      11,283 SF

      Mentor, OH Flex Space Available

      High-visibility warehouse/office space in prime location.
      6111 Heisley Rd, Mentor, OH 44060
      View Details
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    Mentor, OH 44060
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    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
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