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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.

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

Exclusively Listed By

Financing By

Shopping Strip

Century Plaza

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.

Exclusively Listed By

Financing By

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