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    9500 Diamond Centre Dr Mentor, OH 44060
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    9500 Diamond Centre Dr, Mentor, OH 44060

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    • Retail space
    • 15,976 SF
    • 1.77 lot acres
    For Lease
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    Retail Space Near Diamond Center For Lease
    Contact for pricing

    Retail Space Near Diamond Center

    Retail space with excellent visibility and ample parking available for rent.

    9500 Diamond Centre Dr, Mentor, OH 44060
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    Property ID
    US66-2778871
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 9500 Diamond Centre Dr

    Year built
    1999
    Lot size
    1.77 lot acres
    Property type
    Retail space
    APN
    16-B-066-A-00-006-0
    APU
    16B066A000060

    Description

    Trask Tower offers exceptional retail opportunities in Mentor, Ohio. This multi-tenant building, located at 9500 Diamond Centre Dr, boasts a total of 16,168 square feet. Currently, two spaces are available, ranging from 1,100 to 1,935 square feet, perfect for a variety of businesses. The property enjoys excellent street-front visibility, ensuring high exposure to potential customers. Its strategic location near the intersection of Heisley Road and Diamond Centre Drive places it in a high-traffic area, benefiting from the substantial foot and vehicle traffic generated by nearby businesses such as Atlas Cinemas, Home Depot, and Sam's Club. The surrounding area also features a diverse mix of fast-food and full-service restaurants, creating a vibrant and convenient environment for both tenants and customers. Ample parking is available, ensuring easy access for patrons. This property presents a unique opportunity for businesses seeking a high-visibility location in a thriving commercial area within Lake County, Ohio, zip code 44060. The property is classified as retail and is categorized as multi-tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mentor
    County
    Lake
    State
    Ohio
    Longitude
    -81.2986
    Latitude
    41.7144
    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
    $56,148
    $140,000
    $630,000
    $770,000
    -
    $400,000
    $1,800,000
    $2,200,000

    Comparable in this City

    • Value Estimation
      $505,000
      19,851 SF

      5957 Heisley Rd

      RETAIL STORES (PERSONAL SERVICES)
      5957 Heisley Rd, Mentor, OH 44060-1833
      View Details
    • Value Estimation
      $7,385,000
      122,256 SF

      9600 Mentor Ave

      RETAIL STORES (PERSONAL SERVICES)
      9600 Mentor Ave, Mentor, OH 44060-4529
      View Details
    • Value Estimation by Request
      1,300 SF

      8337 Mentor Ave

      RETAIL STORES (PERSONAL SERVICES)
      8337 Mentor Ave, Mentor, OH 44060-5749
      View Details
    • Value Estimation
      $720,000
      26,243 SF

      7835 Mentor Ave

      RETAIL STORES (PERSONAL SERVICES)
      7835 Mentor Ave, Mentor, OH 44060-5502
      View Details
    • Value Estimation
      $610,000
      29,219 SF

      8435 Market St

      RETAIL STORES (PERSONAL SERVICES)
      8435 Market St, Mentor, OH 44060-4116
      View Details
    • Value Estimation by Request
      3,600 SF

      7413 Ctr St

      RETAIL STORES (PERSONAL SERVICES)
      7413 Ctr St, Mentor, OH 44060-5803
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • Contact for pricing
      5,159 SF

      Mentor Retail & Restaurant Opportunity

      Established restaurant, event center, and bar with liquor license.
      8455 Station St, Mentor, OH 44060
      View Details
    • Contact for pricing

      Redevelopment Opportunity in Mentor, Ohio

      Free-standing building and single-family dwelling ideal for retail redevelopment.
      9047 Mentor Ave, Mentor, OH 44060
      View Details
    • $375,000
      0.48 Acres

      Mentor Retail Opportunity For Sale

      Retail building near Mentor Mall with investment potential.
      7590 Mentor Ave, Mentor, OH 44060
      View Details
    • $575,000

      Historical Retail Property with Outdoor Space

      Full-service restaurant, event/party center, and bar in Mentor, OH.
      8455 Station St, Mentor, OH 44060
      View Details
    • Contact for pricing
      1,788 SF

      Freestanding Building on Mentor Avenue

      1,788 SF building with drive-thru and ample parking.
      7652 Mentor Ave, Mentor, OH 44060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,748 SF

      Mentor Retail Space Available

      Retail space available for lease in Mentor, Ohio.
      9170 Mentor Ave, Mentor, OH 44060
      View Details
    • Contact for pricing
      810 SF

      Retail/Office Plaza For Rent

      Neighborhood retail/office plaza with easy highway access.
      9853 Johnnycake Ridge Rd, Mentor, OH 44060
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space on Mentor Avenue

      Retail space available in high-traffic Mentor Avenue location.
      7741-7747 Mentor Ave, Mentor, OH 44060
      View Details
    • Contact for pricing
      18,000 SF

      Retail Opportunity in Mentor, Ohio

      Retail space with expansion potential in a high-traffic location.
      8445-8449 Market St, Mentor, OH 44060
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Available For Rent

      Retail space available for rent, approximately 1,500 square feet.
      8764 Mentor Ave, Mentor, OH 44060
      View Details
    • Contact for pricing
      2,775 SF

      Mentor Retail Space Available

      Retail space in Mentor, Ohio, with monument signage and parking.
      9436-9440 Mentor Ave, Mentor, OH 44060
      View Details
    View Listing
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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.

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