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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6601 Hopkins Rd Mentor, OH 44060

    • Manufacturing properties
    • 26,986 SF
    • 5.33 lot acres
    For Lease
    View listing
    Value Estimations
    $355,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1673282
    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

    • Manufacturing properties

    Property Details for 6601 Hopkins Rd

    Year built
    1966
    Lot size
    5.33 lot acres
    Property size
    26,986 SF
    Zone code
    M-2
    Property type
    Manufacturing properties
    APN
    16-B-056-0-00-009-0
    APU
    16B0560000090

    Description

    This exceptional Class A industrial property, located in Mentor's Tyler Commerce Industrial Park, offers 100,000 square feet of versatile space ideal for distribution, manufacturing, warehousing, or flex operations. Scheduled for completion in 2024, this multi-tenant building presents a unique opportunity for businesses seeking modern, efficient facilities. The building's design prioritizes functionality and adaptability, catering to a wide range of industrial needs. The property's strategic location within the thriving Tyler Commerce Industrial Park provides excellent access to major transportation routes, ensuring seamless logistics and distribution capabilities. This prime location offers businesses significant advantages in terms of accessibility and connectivity to key markets. The building's modern design incorporates features designed to maximize efficiency and productivity, creating an optimal environment for various industrial operations. Detailed specifications and floor plans are available upon request. Don't miss this chance to secure your space in this highly sought-after industrial development. Contact us today to learn more about leasing opportunities and explore how this exceptional property can benefit your business. This is a rare opportunity to establish your business in a state-of-the-art facility within a dynamic industrial park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $403,000
      Market price range: $358k - $995k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.3216
    Latitude
    41.692
    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
    $15,272
    $91,280
    $118,160
    $209,440
    -
    $260,790
    $337,590
    $598,380

    Comparable in this City

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      14,446 SF

      8667 Ee Ave

      MANUFACTURING (LIGHT) • 14,446 SF
      8667 Ee Ave, Mentor, OH 44060
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    • Value Estimation
      $735,000
      167,916 SF

      7333 Corporate Blvd

      MANUFACTURING (LIGHT) • 167,916 SF
      7333 Corporate Blvd, Mentor, OH 44060-4857
      View Details
    • Value Estimation
      $335,000
      9,500 SF

      9301 Hamilton Dr

      MANUFACTURING (LIGHT) • 9,500 SF
      9301 Hamilton Dr, Mentor, OH 44060-4559
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    • Value Estimation
      $355,000
      10,648 SF

      9437 Mercantile Dr

      MANUFACTURING (LIGHT) • 10,648 SF
      9437 Mercantile Dr, Mentor, OH 44060-4524
      View Details
    • Value Estimation
      $75,000
      35,458 SF

      9415 Pinecone Dr

      MANUFACTURING (LIGHT) • 35,458 SF
      9415 Pinecone Dr, Mentor, OH 44060-1864
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      50,000 SF

      Mentor, OH Industrial Property

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    • Contact for pricing
      100,000 SF

      Tyler Commerce: Class A Industrial Space

      100,000 SF Multi-Tenant Industrial Building
      6601 Hopkins Rd, Mentor, OH 44060
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    • $4 SF/Yr
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      View Details
    • $5 SF/Yr
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      Industrial Space Near Major Highways

      45,000 SF industrial space with highway visibility near I-90.
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      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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