Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land for Development Title is generated by Realmo AI

    1120 Aspira Ct., Mansfield, OH 44906

    View on Map
    Claim this Listing
    For Sale
    $130,000

    COMMERCIAL - Mansfield, OH

    Lot size:
    2.80 Acres
    Added:
    Sep 29, 2025
    Days on Market:
    241
    Last Refresh:
    May 27 at 9:06 am

    Property Features for 1120 Aspira Ct.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0579422916026 & 0579422916027
    Lot size
    2.80 Acres

    Taxes and HOA fees

    Tax Description
    23261S PT & 23261 N PT & 23276
    Tax Annual Amount
    192

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Faith I Deal

    Listing agent Faith I Deal

    Listing office RE/MAX First Realty 2059 Park Ave West, ONTARIO, OH

    Listing date Sep 29, 2025

    MLS# 9069433

    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

    • Prime commercial development area
    • Total of 2.8 acres
    • Ideally suited for medical professional office building
    • Pond located at the entrance
    • Tax abatements may be available for new construction
    • Public Sewer

    Overview

    This commercial development area features two combined parcels for sale, totaling 2.8 acres. A pond is located at the entrance on the north side of the property. The site is ideally suited for a medical professional office building. Tax abatements may be available for new construction. The property is located in Mansfield, Ohio, in Richland County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -82.547374
    Latitude
    40.72476

    Nearby Similar for Sale

    • $550,000
      14,938 SF

      Mansfield Redevelopment Opportunity on Park

      Prime commercial land for redevelopment with income potential.
      788 Park Ave W, Mansfield, OH 44906
      View Details
    • $1,300,000
      35,410 SF

      Mansfield Redevelopment Opportunity

      Multi-parcel commercial redevelopment with income potential in Mansfield, OH.
      788800 Park Ave W, Mansfield, OH 44906
      View Details
    • $299,000
      3,519 SF

      High-Traffic Commercial Location in Mansfield

      Versatile commercial property with high visibility and endless possibilities.
      1400 W 4th Street, Mansfield, OH 44906
      View Details
    • $985,000
      9,600 SF

      Mansfield Retail Landmark For Sale

      Fully equipped restaurant and retail spaces in prime location.
      1041 Park Ave. W, Mansfield, OH 44906
      View Details
    • $139,900
      2,204 SF

      Mansfield Commercial Property with Drive-Through

      Corner lot with drive-through, ideal for retail or convenience store.
      233 Lexington Ave, Mansfield, OH 44907
      View Details
    • $750,000
      20,472 SF

      Commercial Land Redevelopment Opportunity

      Income-producing commercial land for redevelopment in Mansfield, OH.
      800 Park Ave W, Mansfield, OH 44906
      View Details
    • $110,000
      3,522 SF

      Versatile Commercial Property in Mansfield

      High-traffic location with income potential and development opportunities.
      400 Ashland Rd, Mansfield, OH 44905
      View Details
    • $389,900
      3,632 SF

      Mansfield Commercial Building For Sale

      Commercial building on 0.82 acre lot with reliable tenant.
      2250 Village Mall Dr., Mansfield, OH 44906
      View Details
    • $299,900
      2,160 SF

      Turnkey Restaurant with Drive-Thru Potential

      Turnkey restaurant with drive-thru, expansion potential on 1.22 acres.
      1026 Lucas Rd, Mansfield, OH 44905
      View Details
    • $239,900
      3,882 SF

      Mansfield Restaurant Opportunity For Sale

      Turnkey restaurant with furnishings and equipment included in sale.
      2461 Emma Lane, Mansfield, OH 44905
      View Details
    • $449,500
      1,712 SF

      Downtown Mansfield Creative Commercial Space

      Turnkey creative space in historic downtown Mansfield, Ohio.
      20 N Mulberry St, Mansfield, OH 44902
      View Details
    • $300,000
      1,433 SF

      Mansfield Commercial Property For Sale

      Versatile commercial property in Mansfield, OH, ideal for restaurant/bar.
      1896 Ashland Rd, Mansfield, OH 44905
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.8 acres of commercial land suitable for development.
    Where is this commercial land located?
    The property is located at 1120 Aspira Ct. Mansfield, OH.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Prime commercial development area; Total of 2.8 acres; Ideally suited for medical professional office building
    (419) 610-6588
    We can help!
    Listing Contact
    Faith I Deal
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1120 Aspira Ct., Mansfield, OH 44906
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!