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Property profile & analytics
OFF-MARKET Estimated value $2,405,000
Hotels

8434 Mentor Ave Mentor, OH 44060-5817

38,921 SF 0.9 ac lot Built 1880
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US66-2152834
Property summary
AI-generated overview

This exceptional 2,200 square foot special purpose property, located in Lake County, presents a unique investment opportunity. The building, constructed in 1880 and renovated in 2001, boasts a rich history and sits on a sizable 0.93-acre lot. Currently operating as a single-tenant establishment, the three-story building offers significant potential for various uses, subject to the B-2 zoning classification. The property's historical character is complemented by modern updates, creating a blend of old-world charm and contemporary functionality. While parking is not provided on-site, the convenient location offers ample street parking options. The absence of building suites allows for a flexible and adaptable layout, perfect for a variety of businesses. The property's unique character, combined with its prime location and substantial lot size, makes it an attractive proposition for discerning investors seeking a distinctive commercial property in Lake County. The Assessor's Parcel Number (APN) is 16A012A000050. This is a Class B building with a single tenant occupancy. The property's historical significance and potential for future development make it a truly remarkable opportunity.

Property profile
Verified
Property type Hotels
Use group HOTEL
Year built 1880
Construction WOOD
Total area 38,921 SF
Lot 0.9 ac (39,239 SF)
Zoning code B-2
APN 16-A-012-A-00-005-0
UPID US66-2152834
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
$2.45M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.41M
Owner & transaction history
Iai Hospitality LLC · 6 yrs held
Iai Hospitality LLC
since 2020
Last sale
$2.5M
7 recorded transactions
2023
Price N/A
2020
$2.5M
2019
Price N/A
2015
$290,000
2000
Price N/A
2000
Price N/A
1969
Price N/A
Zoning & alternative use
B-2 · Mentor, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $3.6M +226.6%
Restaurant $3.0M +166.8%
Commercial (general) $2.9M +163.7%
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