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La-Z-Boy Furniture 7793 Mentor Ave 20,000 SF Retail Building Mentor, OH 44060 $3,655,000 ($182.75/SF) 7.25% Cap Rate
Investment Highlights
- La-Z-Boy Has Occupied The Site Since 2005 and Recently Executed a 6-Year Lease Renewal Through 2031
- Triple Net Lease - Landlord Responsible for Exterior Load Bearing Walls and Foundation
- High-Visibility Site Along Mentor Avenue with Traffic Counts Exceeding 20,000 Vehicles/Day | Positioned Directly Across from Great Lakes Mall
- 20,000 SF Free-Standing Retail Store Located On 1.73 Acres
- Tenant Plans to Remodel the Store Within the Next Year, Upgrading to the Latest Prototype Design
- Cleveland MSA: Over 105,000 People Within 5 Miles
Executive Summary
La-Z-Boy Has Occupied The Site Since 2005 and Recently Executed a 6-Year Lease Renewal Through 2031
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,000 SF
Building Class
C
Year Built
2005
Price
$3,655,000
Price Per SF
$182.75
Cap Rate
7.25%
NOI
$264,988
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.73 AC
Zoning
B-2, Mentor City
Parking
70 Spaces (3.5 Spaces per 1,000 SF Leased)
Frontage
106’ on Mentor Ave
Amenities
- Bus Line
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-B-031-C-00-007-0 | Improvements Assessment | $405,360 |
| Land Assessment | $135,990 | Total Assessment | $541,350 |
Property Taxes
Parcel Number
16-B-031-C-00-007-0
Land Assessment
$135,990
Improvements Assessment
$405,360
Total Assessment
$541,350
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La-Z-Boy Furniture | 7793 Mentor Ave
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