7793 Mentor Ave - Freestanding FOR SALE


Mentor, OH 44060
$3,313,000 USD
303-884-6659
7793 Mentor Ave, Mentor, OH for Sale
$3,313,000 USD
Freestanding - FOR SALE
1/10
null | 8% Cap Rate

7793 Mentor Ave
Mentor, OH 44060


HIGHLIGHTS

  • 5+ Years Remaining | Scheduled Rental Increases | Options to Extend | Future Remodel | Established Brand
  • NNN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • The Great Lakes Mall (1,250,000+ SF) | Dense Retail Corridor | Strong National/Credit Tenant Presence
  • Along Mentor Ave (17,700 VPD) | Lakeland Fwy (66,600 VPD) | Excellent Access
  • Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS National Net Lease Group, LP is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, LA-Z-Boy investment property located in Mentor, Ohio. The tenant currently has 5+ years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features $1.00/SF rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to exterior load bearing walls and foundation making it an ideal, low-management investment opportunity for a passive investor. La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations.

FOR SALE DETAILS

PRICE

$3,313,000 USD

PRICE/SF

$166 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La-Z-Boy Furniture

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

LAND ACRES

1.73 AC

LAND SF

75,359 SF

ZONING

B-2

APN/PARCEL ID

16-B-031-C-00-007-0

ASK ABOUT THIS PROPERTY

Steven RobertsSRS Real Estate PartnersMore Info
303-884-6659

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Steven RobertsSRS Real Estate PartnersMore Info
303-884-6659

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.