Re-Tenant/Redevelopment Opportunity-2nd Gen Restaurant — Sale in Mentor, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Mentor, OH 44060

Photos

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Description

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, full-service restaurant building. The 2nd generation restaurant property is located on Reynolds Road (Route 306), one of Mentor’s primary retail thoroughfares, with excellent visibility and access. The subject features a 7,384 SF freestanding building on an oversized 1.87 AC parcel, 142 parking spaces & prominent monument signage on Reynolds Rd. The property benefits from exceptional access with an ingress/egress point directly off Renyolds Rd, and with a second ingress/egress point via a shared access road with the retail strip center behind the subject. The property was originally developed in 1995 and was fully renovated in 2016. The turn-key facility, formerly a Friday’s, is designed for full-service dining and has a fully equipped kitchen & includes a nice size outdoor patio area. The property is located on a section of Reynolds Road which has evolved into a strong retail cluster with co-tenants such as Chipotle (Placer AI ranks in top 3% Most Visited Chipotle stores nationwide), Mission BBQ, Starbucks, Huntington Bank, Sheetz, The Burger Experience, Red Lobster, Arby’s, Bob Evan’s and McDonald’s. The sizable building, ample site, and flexible zoning allow an investor to reposition the asset in several different ways. The parcel has an M-1 (light manufacturing) zoning designation, but the site will most likely attract retail uses which would benefit from high visibility frontage on heavily trafficked Reynold’s Road, from a setting with national retail co-tenants, and from strong demographics. Reynolds Road has a solid traffic count of 31,000+ vehicles per day. The property benefits from immediate proximity to the Lakeland Freeway (71,000+ VPD) and Interstate-90 (65,000+ VPD). The property is supported by strong demographics with 49,000 residents with an average household income of $96,000 within 3 miles, providing consistent demand for area retail businesses. The property is strate

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