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    Property profile & analytics

    6101 Andrews Rd Mentor On The Lake, OH 44060-2864

    • Outlet malls
    • 13,624 SF
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    $1,030,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0633751
    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

    • Outlet malls

    Property Details for 6101 Andrews Rd

    Year built
    2000
    Lot size
    1.24 lot acres
    Property size
    13,624 SF
    Zone code
    B-DIS
    Property type
    Outlet malls
    APN
    19-A-092-A-00-003-0
    APU
    19A092A000030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,176,000
      Market price range: $498k - $1.27M
      AI Estimate
      $765,000
      Market price range: $276k - $910k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $870,000
      Current use
      OFFICE BUILDING
      $1,335,000
      Change: +54% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,140,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $960,000
      Change: +10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $950,000
      Change: +10% Conversion: Easy
      WAREHOUSE, STORAGE
      $890,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentor On The Lake
    County
    Lake
    State
    Ohio
    Longitude
    -81.3607
    Latitude
    41.7054
    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
    $53,828
    $113,870
    $306,790
    $420,660
    -
    $325,350
    $876,530
    $1,201,880

    Comparable in this City

    • Value Estimation
      $2,715,000
      99,616 SF

      9303 Mentor Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 99,616 SF
      9303 Mentor Ave, Mentor, OH 44060-6413
      View Details
    • Value Estimation
      $3,850,000
      136,138 SF

      5600 Emerald Ct

      WHOLESALE OUTLET, DISCOUNT STORE • 136,138 SF
      5600 Emerald Ct, Mentor, OH 44060-1869
      View Details
    • Value Estimation
      $1,725,000
      10,938 SF

      7796 Munson Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 10,938 SF
      7796 Munson Rd, Mentor, OH 44060-3745
      View Details
    • Value Estimation by Request
      15,475 SF

      7530 Mentor Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 15,475 SF
      7530 Mentor Ave, Mentor, OH 44060-5418
      View Details
    • Value Estimation
      $2,180,000
      30,849 SF

      9620 Diamond Ctr Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 30,849 SF
      9620 Diamond Ctr Dr, Mentor, OH 44060-1892
      View Details
    • Value Estimation
      $750,000
      8,848 SF

      9575 Mentor Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 8,848 SF
      9575 Mentor Ave, Mentor, OH 44060-4521
      View Details

    Similar Nearby for Sale

    • $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
    • $575,000
      2.05 Acres

      Historical Retail Property in Mentor

      5,159 SF retail property with outdoor space for sale/lease.
      8455 Station St, Mentor, OH 44060
      View Details
    • $2,500,000
      0.94 Acres

      8694 Mentor Ave

      Automotive properties • 0.94 Acres
      8694 Mentor Ave, Mentor, OH 44060
      View Details
    • $400,000
      0.48 Acres

      Cleared Commercial Land Redevelopment Opportunity

      Cleared commercial land near Munson and Andrews Rd, ready for development.
      6082 Andrews Rd, Mentor on the Lake, OH 44060
      View Details
    • $750,000
      6,000 SF

      Mentor Retail Building: Prime Location

      6,000 SF Retail Space, High Visibility
      6970 Heisley Rd, Mentor, OH 44060
      View Details
    • $299,000
      2,000 SF

      Turnkey Restaurant Opportunity in Mentor

      Freestanding building with patio, equipment, and parking included.
      7224 Center St, Mentor, OH 44060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      106,553 SF

      Lakeside Center Retail Space for Lease

      Prime Mentor-on-the-Lake retail center with multiple spaces available.
      5929 Andrews Rd, Mentor-on-the-Lake, OH 44060
      View Details
    • Contact for pricing
      4,555 SF

      Mentor Office Suites Available

      Lake County Ohio office space, 10 units.
      7547 Mentor Ave, 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
    • Contact for pricing
      1,906 SF

      Andrews Road Retail Center

      Double-anchored shopping center, high traffic.
      5899 Andrews Rd, Mentor-on-the-Lake, OH 44060
      View Details
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    Mentor On The Lake, OH 44060-2864
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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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