1165 Mentor Ave Painesville, OH 44077-1831
Property profile & analytics
1165 Mentor Ave Painesville, OH 44077-1831
- Drive through restaurants
- 1,195 SF
- 0.43 lot acres
Property ID
US66-1568581
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.
Location Intelligence
Current Use by Public Records
- Drive through restaurants
Property Details for 1165 Mentor Ave
- Year built
- 2008
- Construction
- WOOD
- Lot size
- 0.43 lot acres
- Property size
- 1,195 SF
- Zone code
- R-1
- Property type
- Drive through restaurants
- APN
- 15-C-036-J-00-013-0
- APU
- 15C036J000130
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Pizza Hut property located at 1165 Mentor Ave, Painesville, OH 44077. The 1,302 square foot building, constructed in 2008, sits on a 0.43-acre lot and enjoys a prime location at a busy, signalized intersection of Mentor Avenue (US Route 20) and OH-44, boasting high visibility and significant traffic counts (13.9 million annualized). The property is currently 100% occupied under an absolute NNN lease with a strong franchisee guarantee (operator owns over 120 units nationwide). The 20-year lease, commencing February 22, 2022, and expiring February 28, 2042, has a remaining term of approximately 17.3 years. Rent increases of 1.75% annually are built in, starting in year seven, with six, five-year lease options extending the potential lease term to 2073. The asking price is $1,278,950, representing a price per square foot of $982.30 and a 6.00% cap rate with a current NOI of $76,737. The property benefits from its proximity to significant developments, including the new Lake Erie College dormitory, the Victoria Place renovation, and the Grand River Walk mixed-use development. The property is zoned R1. This is a passive income investment with minimal landlord responsibilities.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Painesville
- County
- Lake
- State
- Ohio
- Longitude
- -81.2674
- Latitude
- 41.7071
- 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
$7,830
$42,510
$35,700
$78,210
-
$121,470
$102,000
$223,470
