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    FOR LEASE
    Medical Office Space

    8224 Mentor Ave, Mentor, OH 44060

    31,288 SF 2.72 ac lot Built 1973
    Entity Owned 6-yr Hold ~ Est. High Equity
    Property ID
    US66-1098380
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents two, two-story brick buildings situated on a 3.474-acre lot in the desirable Mentor Office Park. Built in 1973, this Class B property offers a total of 166 parking spaces, ensuring ample convenience for tenants and visitors. The property is zoned R-2 and features a mix of professional and medical office tenants, creating a diverse and stable tenant base. Currently, one suite of 1,809 square feet is available for lease. The buildings boast a park-like setting, enhancing the professional atmosphere. Located at 8224 Mentor Avenue in Mentor, Ohio (zip code 44060), this property enjoys a prime location directly across from the public library, providing excellent visibility and accessibility. Its convenient proximity to I-90 and public transportation ensures easy commutes for employees and clients. The property's APN numbers are 16A010D000120 and 16A010D000280, located in Lake County, Ohio. This is a rare opportunity to acquire a well-maintained, established medical office complex in a high-demand location. The property's strong location and existing tenant base make it an attractive investment for both seasoned and new investors seeking a stable and growing income stream. The total number of suites within the buildings is not currently specified.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1973
    Construction WOOD
    Total area 31,288 SF
    Lot 2.72 ac (118,483 SF)
    Zoning code R-2
    APN 16-A-010-D-00-012-0
    UPID US66-1098380
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.71M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.25M
    Blend (final) Blend
    $1.81M
    Owner & transaction history
    Bsd Mentor Avenue LLC · 6 yrs held
    Bsd Mentor Avenue LLC
    since 2020
    Last sale
    $1.9M
    4 recorded transactions
    2020
    $1.9M
    2016
    2011
    $625,000
    1969
    Zoning & alternative use
    R-2 · Mentor, OH
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $2.6M +19.1%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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