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    Property profile & analytics

    8561 East Ave Mentor, OH 44060

    • Office buildings
    • 4,380 SF
    • 0.65 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $235,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0633731
    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

    • Office buildings

    Property Details for 8561 East Ave

    Year built
    1984
    Lot size
    0.65 lot acres
    Property size
    4,380 SF
    Zone code
    M-1
    Property type
    Office buildings
    APN
    16-B-052-P-00-038-0
    APU
    16B052P000380

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $360,000
      Market price range: $205k - $570k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.3339
    Latitude
    41.681
    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
    $6,432
    $34,580
    $53,630
    $88,210
    -
    $98,790
    $153,240
    $252,030

    Comparable in this City

    • Value Estimation
      $250,000
      8,526 SF

      9609 Jackson St

      OFFICE BUILDING • 8,526 SF
      9609 Jackson St, Mentor, OH 44060-4517
      View Details
    • Value Estimation
      $265,000
      3,262 SF

      8440 Westport Dr

      OFFICE BUILDING • 3,262 SF
      8440 Westport Dr, Mentor, OH 44060-4123
      View Details
    • Value Estimation
      $240,000
      4,916 SF

      7234 Ctr St

      OFFICE BUILDING • 4,916 SF
      7234 Ctr St, Mentor, OH 44060-4908
      View Details
    • Value Estimation
      $230,000
      3,252 SF

      6270-6272 Ctr St

      OFFICE BUILDING • 3,252 SF
      6270-6272 Ctr St, Mentor, OH 44060
      View Details
    • Value Estimation
      $230,000
      2,148 SF

      7316 Ctr St

      OFFICE BUILDING • 2,148 SF
      7316 Ctr St, Mentor, OH 44060-5802
      View Details
    • Value Estimation
      $240,000
      2,000 SF

      9025 Osborne Dr

      OFFICE BUILDING • 2,000 SF
      9025 Osborne Dr, Mentor, OH 44060-4326
      View Details

    Similar Nearby for Sale

    • $4,000,000
      32,840 SF

      Two-Story Office Building in Mentor

      32,840 SF two-story office building on 2.53 acres.
      8445 Munson Rd, Mentor, OH 44060
      View Details
    • Contact for pricing
      5,000 SF

      Mentor Office Building - 5,000 SF

      High-traffic location, immediate occupancy. Excellent investment.
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    • $1,035,720
      11,508 SF

      Tyler Blvd Flex/Warehouse Opportunity

      Office and warehouse space available on Tyler Blvd.
      8822 Tyler Blvd, Mentor, OH 44060
      View Details
    • $475,000
      3,335 SF

      Established Medical Practice For Sale

      Medical practice with equipment and staff on high-traffic street.
      7439 Tyler Blvd, 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
    • $925,000
      2.15 Acres

      Prime Mentor Development Site

      2.15 Acres, High-Traffic Location
      8366 Tyler Blvd, Mentor, OH 44060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,263 SF

      Well-Maintained Office Building For Rent

      Two-story office building with ample parking and customizable floor plans.
      8224 Mentor Ave, Mentor, OH 44060
      View Details
    • $15 SF/Yr
      12,000 SF

      Lindsay Professional Center: Mentor Office Space

      Modern medical & creative office suites available.
      6990 Lindsay Dr, Mentor, OH 44060
      View Details
    • $15 SF/Yr
      4,402 SF

      Prime Mentor Office Space Available

      Spacious Office Suites, Ideal Location
      8561 East Ave, Mentor, OH 44060
      View Details
    • $8 SF/Yr
      8,000 SF

      Mentor Office Space For Rent

      8,000 SF office space in the heart of Mentor.
      7333 Corporate Blvd, Mentor, OH 44060
      View Details
    • $16 SF/Yr
      1,650 SF

      Mentor Medical Office Space

      1,650 SF Medical Office Suite in Mentor, OH
      8300 Tyler Blvd, Mentor, OH 44060
      View Details
    • Contact for pricing
      40,254 SF

      Colonial Plaza: Mentor Office Space

      Prime Mentor office suites, 10 spaces available.
      7501 Mentor Ave, Mentor, OH 44060
      View Details
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    8561 East Ave
    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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