Shopping Strip
Century Plaza
7617 Mentor Ave, Mentor, OH 44060
Listing Price: $1,700,000
Cap Rate
4.06%
Gross SF
8,800
Rentable SF
8,800
Price/Gross SF
$193.18
Lot Size
0.61 acres
Year Built
1995
Investment Overview
Marcus & Millichap is pleased to present for sale Century Plaza, located in Mentor, Ohio.
Century Plaza
Investment Highlights
- 8,800-Square-Foot Four-Unit Triple-Net Strip Center in Affluent Cleveland Suburb of Mentor, Ohio
- Value Add Opportunity with One Current Vacancy and One Upcoming Vacancy Once T-Mobile Leaves
- Pro Forma Cap Rate of 12.07 Percent Based on Leasing the Two Vacancies at $22 per Square Foot
- T-Mobile (32 Percent of Gross Leasable Area) – Endcap with Triple-Net Lease thru December 2027 – Will be Vacating at End of Term
- Sport Clips (23 Percent of Gross Leasable Area) Triple-Net Lease thru January 2028; 10 Percent Rent Increase in Upcoming Option. Bank of America (17 Percent of Gross Leasable Area) – Endcap Unit with Triple-Net Lease thru April 2029; "A-" (S&P) High Investment-Grade Credit
- Recently Renovated with Modern/ Attractive Façade and Storefronts and Highly Visible Pylon Sign
- Fully Triple-Net Lease Structures with PRS Reimbursement of Landlord Tax, Insurance, Common Area Maintenance, and Management Expenses
- Easy-to-Lease Units Ranging from 1,500 – 2,800 Square Feet with Daily Needs/E-Commerce-Proof Tenants
Listing Price: $1,700,000
Cap Rate
4.06%
Gross SF
8,800
Rentable SF
8,800
Price/Gross SF
$193.18
Lot Size
0.61 acres
Year Built
1995
Investment Highlights
- 8,800-Square-Foot Four-Unit Triple-Net Strip Center in Affluent Cleveland Suburb of Mentor, Ohio
- Value Add Opportunity with One Current Vacancy and One Upcoming Vacancy Once T-Mobile Leaves
- Pro Forma Cap Rate of 12.07 Percent Based on Leasing the Two Vacancies at $22 per Square Foot
- T-Mobile (32 Percent of Gross Leasable Area) – Endcap with Triple-Net Lease thru December 2027 – Will be Vacating at End of Term
- Sport Clips (23 Percent of Gross Leasable Area) Triple-Net Lease thru January 2028; 10 Percent Rent Increase in Upcoming Option. Bank of America (17 Percent of Gross Leasable Area) – Endcap Unit with Triple-Net Lease thru April 2029; "A-" (S&P) High Investment-Grade Credit
- Recently Renovated with Modern/ Attractive Façade and Storefronts and Highly Visible Pylon Sign
- Fully Triple-Net Lease Structures with PRS Reimbursement of Landlord Tax, Insurance, Common Area Maintenance, and Management Expenses
- Easy-to-Lease Units Ranging from 1,500 – 2,800 Square Feet with Daily Needs/E-Commerce-Proof Tenants
Investment Overview
Marcus & Millichap is pleased to present for sale Century Plaza, located in Mentor, Ohio.
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
