Shopping Strip

Heisley Pointe

9423 Mentor Ave, Mentor, OH 44060

Listing Price: $2,888,000

Cap Rate
9.00%
Gross SF
23,889
Rentable SF
23,889
Price/Gross SF
$120.89
Lot Size
11.47 acres
Year Built
1990

Investment Overview

Marcus & Millichap is pleased to present for sale, Heisley Pointe in Mentor, Ohio. This 23,889-square-foot property is a hard-corner strip center that is 100 percent occupied. The property is located in an affluent area with an average household income of $96,000-$98,000 within one and three mile radius rings. The majority of the tenants have base term rental increases and/or increases in rental options. Heisley Pointe is being offered for $2,888,000.

Investment Highlights

  • 100 Percent Occupied, 23,889-Square-Foot Hard-Corner Strip Center in Affluent Cleveland Suburb
  • Directly Between Walmart and Meijer (0.2-Miles West) and Target and Lowe's and Kohl's (0.4-Miles East)
  • 32,500 Cars Per Day at Hard Corner Signalized Intersection; Two Monument Signs and Two Ingress/Egress Points
  • Affluent Area: Average Household Income of $96,000-$98,000 within One and Three Mile Radius Rings
  • $11.25 Per Square Foot Triple-Net Lease Average Rent - Replaceable Rents with Upside Potential
  • High Yield Offering: Nine Percent CAP List, 16.7 Percent Year One Cash/Cash Return with Proposed Bank Financing
  • Immediately Neighbored by Brand-New Starbucks-Anchored Retail Strip; Across from Walgreens
  • Anchored by My Kids Childcare (8,950 Square Feet, 37 Percent of Gross Leasable Area) – Just Expanded by 4,200 Square Feet in August 2020, Leased into 2024

Exclusively Listed By

Listing Price: $2,888,000

Cap Rate
9.00%
Gross SF
23,889
Rentable SF
23,889
Price/Gross SF
$120.89
Lot Size
11.47 acres
Year Built
1990

Investment Highlights

  • 100 Percent Occupied, 23,889-Square-Foot Hard-Corner Strip Center in Affluent Cleveland Suburb
  • Directly Between Walmart and Meijer (0.2-Miles West) and Target and Lowe's and Kohl's (0.4-Miles East)
  • 32,500 Cars Per Day at Hard Corner Signalized Intersection; Two Monument Signs and Two Ingress/Egress Points
  • Affluent Area: Average Household Income of $96,000-$98,000 within One and Three Mile Radius Rings
  • $11.25 Per Square Foot Triple-Net Lease Average Rent - Replaceable Rents with Upside Potential
  • High Yield Offering: Nine Percent CAP List, 16.7 Percent Year One Cash/Cash Return with Proposed Bank Financing
  • Immediately Neighbored by Brand-New Starbucks-Anchored Retail Strip; Across from Walgreens
  • Anchored by My Kids Childcare (8,950 Square Feet, 37 Percent of Gross Leasable Area) – Just Expanded by 4,200 Square Feet in August 2020, Leased into 2024

Investment Overview

Marcus & Millichap is pleased to present for sale, Heisley Pointe in Mentor, Ohio. This 23,889-square-foot property is a hard-corner strip center that is 100 percent occupied. The property is located in an affluent area with an average household income of $96,000-$98,000 within one and three mile radius rings. The majority of the tenants have base term rental increases and/or increases in rental options. Heisley Pointe is being offered for $2,888,000.

Exclusively Listed By

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