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    1230 Lexington Ave Unit 100 - 102 Mansfield, OH 44907

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    Commercial - Mansfield, OH

    Property size:
    2,795 SF
    Price / SF:
    $1.25/SF
    Added:
    Nov 28, 2025
    Days on Market:
    159
    Last Refresh:
    May 6 at 12:06 pm

    Property Features for 1230 Lexington Ave Unit 100 - 102

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0569216004000
    Size
    2,795 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Gas (Cooling)

    Building Details

    Year built
    2003
    Flooring type
    Concrete, Wood
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Nathan B. Neal

    Listing agent Nathan B. Neal

    Listing office Haring Realty, Inc. 1180 Lexington Ave, Mansfield, OH

    Listing date Nov 28, 2025

    MLS# 9070049 Listing URL

    Copyright © 2026 Mansfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent location on Lexington Avenue (U.S. Highway 42) with high traffic volume.
    • Proximity to Appleseed Shopping Center, anchored by a large Kroger Marketplace.
    • Located within a five‑mile radius of nearly 30,000 households.
    • Unit size: Approximately 2,795 square feet.
    • Available for lease at $3,500 per month (modified gross).
    • Central heating and cooling.

    Overview

    Professional Office Space Available

    This professional office space, Unit 100-102, offers approximately 2,795 square feet, which includes an allocation for the building's common areas. The unit layout is available in the floor plan. The asking rent is $3,500 per month on a modified gross lease, with the tenant responsible for separately submetered in-unit utilities. The property benefits from an excellent location with average daily traffic volumes of nearly 15,000 vehicles per day along Lexington Avenue (U.S. Highway 42). The location is near Appleseed Shopping Center, anchored by one of the largest Kroger Marketplaces in the state, as well as numerous restaurants and specialty retailers along the Lexington Avenue corridor. There are nearly 30,000 households within a five-mile radius of the building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Stepmobile (Bike/Boat/Book/etc) Store Matthew Trittschuh Insurance ... Insurance Agency New Dawn Center ... Marriage Or Relationship Counselor Personal Wealth Solutions Financial Advisor loanDepot Loan Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5407598
    Latitude
    40.7251124

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    FAQs

    What type of property is this?
    Office units - Office space for lease in a high-traffic location.
    Where is this office units located?
    The property is located at 1230 Lexington Ave Unit 100 - 102 Mansfield, OH.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Excellent location on Lexington Avenue (U.S. Highway 42) with high traffic volume.; Proximity to Appleseed Shopping Center, anchored by a large Kroger Marketplace.; Located within a five‑mile radius of nearly 30,000 households.
    (419) 756-8383
    We can help!
    Listing Contact
    Nathan B. Neal
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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