Shopping Strip
Starbucks Strip Mentor, OH
9383 Mentor Ave, Mentor, OH 44060
Listing Price: $4,220,000
Investment Overview
Marcus & Millichap is pleased to present for sale a 100 Percent Occupied, 8,000-Square-Foot Starbucks-Anchored Four-Tenant Triple-Net Strip Center in Upscale Cleveland Suburb of Mentor, Ohio. Highly Improved Gross Leasable Area – Three of Four Units Totaling 74 Percent of Gross Leasable Area are Restaurant/Food Service Build-outs. Located Along Mentor Avenue – Primary Retail Corridor and Commuter Arterial with 20,180 Vehgicles per Day. Just 0.1-Mile West of 2022-Built Trader Joe’s – One of Only Three Trader Joe’s in the Entire Cleveland-Akron-Canton CSA (3.5 Million Population), Exemplifying Quality of the Real Estate. Dense, Middle-Class Demographics: 44,219 in Three Miles and 105,954 in Five Mile Population Counts; Surrounded by Dense Single-Family and Apartment and Condo Developments; Average Household Income of $89-97K within One, Three, and Five Mile Radius Rings.
Starbucks Strip Mentor, OH
Investment Highlights
- 100 Percent Occupied, 8,000-Square-Foot Starbucks-Anchored FourTenant Triple-Net Strip Center in Upscale Cleveland Suburb of Mentor, Ohio
- A+ Hard Corner Location with 29,350 Vehicles per Day; Excellent Frontage and Visibility
- Fully Renovated and Re-Tenanted in 2019/2020; $1.712 Million in New Buildouts, Roof, HVAC, Parking Lot, Infrastructure, etc. | Transferable 20-Year Roof Warranty
- 5.3 Years WALT with No Lease Rollover Until 2028
- All Tenants Subject to Triple-Net Leases with 100 Percent Recovery of Landlord Operating Expenses, Including Management Fees
- Starbucks (28 Percent of Gross Leasable Area) – Prime Intersection-Facing Endcap with Wraparound Drive-thru; 2/2030 Exp
- Directly Between Walmart and Meijer (0.2-Mi West) and Target and Lowe's and Kohl's and UH Mentor Health Center (0.2 - 0.4-Mi East)
Listing Price: $4,220,000
Investment Highlights
- 100 Percent Occupied, 8,000-Square-Foot Starbucks-Anchored FourTenant Triple-Net Strip Center in Upscale Cleveland Suburb of Mentor, Ohio
- A+ Hard Corner Location with 29,350 Vehicles per Day; Excellent Frontage and Visibility
- Fully Renovated and Re-Tenanted in 2019/2020; $1.712 Million in New Buildouts, Roof, HVAC, Parking Lot, Infrastructure, etc. | Transferable 20-Year Roof Warranty
- 5.3 Years WALT with No Lease Rollover Until 2028
- All Tenants Subject to Triple-Net Leases with 100 Percent Recovery of Landlord Operating Expenses, Including Management Fees
- Starbucks (28 Percent of Gross Leasable Area) – Prime Intersection-Facing Endcap with Wraparound Drive-thru; 2/2030 Exp
- Directly Between Walmart and Meijer (0.2-Mi West) and Target and Lowe's and Kohl's and UH Mentor Health Center (0.2 - 0.4-Mi East)
Investment Overview
Marcus & Millichap is pleased to present for sale a 100 Percent Occupied, 8,000-Square-Foot Starbucks-Anchored Four-Tenant Triple-Net Strip Center in Upscale Cleveland Suburb of Mentor, Ohio. Highly Improved Gross Leasable Area – Three of Four Units Totaling 74 Percent of Gross Leasable Area are Restaurant/Food Service Build-outs. Located Along Mentor Avenue – Primary Retail Corridor and Commuter Arterial with 20,180 Vehgicles per Day. Just 0.1-Mile West of 2022-Built Trader Joe’s – One of Only Three Trader Joe’s in the Entire Cleveland-Akron-Canton CSA (3.5 Million Population), Exemplifying Quality of the Real Estate. Dense, Middle-Class Demographics: 44,219 in Three Miles and 105,954 in Five Mile Population Counts; Surrounded by Dense Single-Family and Apartment and Condo Developments; Average Household Income of $89-97K within One, Three, and Five Mile Radius Rings.
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