Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1450 Lexington Ave Mansfield, OH 44907

    Sponsored
    For Sale
    Pending
    Contact for pricing

    Commercial - Mansfield, OH

    Property size:
    3,500 SF
    Lot size:
    19.00 Acres
    Days on Market:
    531
    Last Refresh:
    Jan 27 at 9:06 am

    Property Features for 1450 Lexington Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    0569217307000
    Size
    3,500 SF
    Lot size
    19.00 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1957
    Flooring type
    Concrete
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Faith I Deal

    REMAX FIRST REALTY (419) 524-6283

    Listing agent Faith I Deal (419) 524-6283

    Listing date Aug 15, 2024

    MLS# 9054818 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.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Appleseed Center

    Located in the Appleseed Shopping Center at the signalized intersection of Lexington Ave (SR 42) & Trimble Rd, this 3500 square foot unit offers retail or office space. Unit # 1450 is a wide open space with one restroom, and will be delivered white box ready for customization. The property is under new ownership and management, with plans for a modern style exterior remodel underway and new leasing incentives. The location benefits from national chain shadow anchors including Kroger Marketplace, McDonald's, Panera Bread, & Monro Muffler, as well as inline tenants H & R Block, Great Clips, Ollie's Outlet, and Dollar Tree. The property has signage visibility. The shopping center is located in Mansfield, OH, in Richland County, and has a lot size of 19 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Styles by Stef Hair Salon B-laxed Massage Therapy Massage Therapist Studio 321 Med ... Medical Spa

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Similar Places Nearby

    Coin Cloud Bitcoin ATM, Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.548213
    Latitude
    40.719843

    Nearby Similar for Sale

    • New
      $385,900
      0.63 Acres

      Turnkey Multi-Family Investment Opportunity

      Renovated mixed-use property with residential and commercial spaces in Mansfield.
      1303 E Park Ave, Mansfield, OH 44905
      View Details
    • $699,900
      16,496 SF

      Mixed-Use Commercial Property with Hardware Store

      Prime mixed-use property with established hardware store and multiple income streams.
      15 Main St, Lexington, OH 44904
      View Details
    • Contact for pricing
      25,000 SF

      Versatile Commercial Space in Mansfield

      25,000 sq ft commercial space ideal for various businesses.
      850 4Th St, Mansfield, OH 44906
      View Details
    • $87,900

      Multi-Family Property in Mansfield, OH

      Income-generating multi-family property with recent roof replacement in quiet neighborhood.
      524 Lida St, Mansfield, OH 44903
      View Details
    • New
      $229,900
      0.51 Acres

      Mansfield Duplex with Income Potential

      Updated duplex with potential for a third unit in basement.
      1742 Windsor Rd, Mansfield, OH 44905
      View Details
    • $399,000
      13,000 SF

      Historic Warehouse in Downtown Mansfield

      Historic 13,000 SF warehouse with flexible floor plans for sale.
      160 Main St, Mansfield, OH 44902
      View Details
    • Contact for pricing
      13,000 SF

      Historic Downtown Mansfield Warehouse for Lease

      Historic 13,000 SF Mansfield warehouse with flexible floor plans.
      160 Main St, Mansfield, OH 44902
      View Details
    • $349,900
      1,805 SF

      Commercial Lots with Renovation Potential

      Two commercial lots with structures ready for renovation or reimagining.
      1298 Ashland Rd, Mansfield, OH 44905
      View Details
    • $339,900
      7,980 SF

      Versatile Commercial Property in Mansfield

      7,980 sq ft commercial building with automotive garage.
      530 Pearl Ave, Mansfield, OH 44905
      View Details
    • $379,995
      2,400 SF

      Ontario Commercial Building For Sale

      Professional building in Ontario, ideal for office or retail.
      25 Lexington Springmill Rd, Mansfield, OH 44906
      View Details
    • $194,500
      0.15 Acres

      Updated Triplex Investment Opportunity

      Partially rented triplex with strong cash flow and recent updates.
      30 Douglas Ave, Mansfield, OH 44906
      View Details
    • $180,000
      1,800 SF

      Functional Warehouse with Vehicle Access

      Versatile warehouse designed for vehicle access, storage, and workshop operations.
      24 Junction St, Mansfield, OH 44902
      View Details

    FAQs

    What type of property is this?
    Shopping center - 3500 SF retail/office space in a busy shopping center.
    Where is this shopping center located?
    The property is located at 1450 Lexington Ave Mansfield, OH.
    What is the asking price?
    The asking price for this property is $2,042.
    What are key features of this property?
    This property features: - Located in the high-traffic Appleseed Shopping Center at a signalized intersection.; - **3500 sq ft of open retail/office space.**; - White box ready for custom design.
    (419) 524-6283
    Request Owner's contact information
    1450 Lexington Ave Mansfield, OH 44907
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1450 Lexington Ave
    Mansfield, OH 44907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1450 Lexington Ave Mansfield, OH 44907
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Faith I Deal
    (419) 524-6283
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.