1170 Lexington Ave, Mansfield, OH 44907
Retail-ready main level with salon plumbing plus an upstairs apartment and detached garage for flexible use.
- Added:
- Apr 20, 2026
- Days on Market:
- 53
- Last Refresh:
- Jun 11 at 2:26 am
Property Features for 1170 Lexington Ave
General Information
- Standard status
- Active
- Size
- 2,164 SF
Listing agent Lindsay Zimmer License #2001009928 (419) 571-5488
Listing office RE/MAX First Realty (419) 571-5488
Listing date Apr 20, 2026
Source Exprealty
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX First Realty
HighLights
- Main floor currently set up as boutique store and salon with 5 rooms and a bathroom
- Two main‑floor rooms are plumbed for salon chairs
- Upstairs apartment has its own staircase and previously rented for $900/month
- Detached 2‑car garage (“the cottage”) used as additional store area, plus lower‑level storage
- Updates include roof (2 years old), HVAC replaced (2011), windows (approx. 15 years old), and 200 amp electric
- Asphalt millings added to the parking lot within the past 2 years
Overview
Located at 1170 Lexington Ave in Mansfield, OH, the property includes a spacious parking lot to support customer and tenant access.
The layout is well suited for an owner-operator who wants to run a storefront while maintaining residential rental income in the upstairs unit. The detached garage “cottage” offers practical flexibility for expanded retail, overflow workspace, or other compatible uses, while the lower-level storage helps support day-to-day operations. Documented updates include a roof installed about two years ago, HVAC replacement in 2011, windows approximately 15 years old, 200-amp electric service, and asphalt millings added about two years ago. The upstairs apartment has previously been rented at $900 per month.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.0k | $18.00 |
| − Vacancy | −$4.7k | −$2.16 |
| EGI | $34.3k | $15.84 |
| − OpEx | −$12.9k | −$5.94 |
| NOI | $21.4k | $9.90 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Mansfield
- County
- Richland
- State
- Ohio
- Longitude
- -82.5396497
- Latitude
- 40.7267497
