Retail Center Near Walmart Supercenter

331 N Lexington Springmill Rd, Mansfield, OH

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For Sale

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Retail property shadow-anchored by high-performing Walmart Supercenter.

Type:RETAIL

Property size:

1,800 SF

Lot size:

0.01 Acres

Price / SF:

$3,217/SF

HighLights

Shadow‑anchored by a high‑performing Walmart Supercenter.
Potential for a nearly 10% cap rate post‑stabilization.
Long‑term tenants: Dollar Tree, Cato, and Hong Kong Buffet have occupied the center for 20+ years.
Located in a high‑traffic retail corridor.
Proximity to major traffic drivers such as Home Depot, Kohl’s and Target.
Located in Mansfield, where manufacturing is the largest industry.

We can help!

Listing Contact

Conrad Sarreal

For Sale

Contact for pricing

Retail property shadow-anchored by high-performing Walmart Supercenter.

Type:RETAIL

Property size:

1,800 SF

Lot size:

0.01 Acres

Price / SF:

$3,217/SF

Added:: May 2, 2025
Days on Market:: 409
Last Refresh:: May 20 at 9:30 pm

Property Features for 331 N Lexington Springmill Rd

General Information

Standard status: Active
Size: 1,800 SF
Lot size: 0.01 Acres
Property subtype: RETAIL

Properties For Sale

at 331 N Lexington Springmill Rd Contact us

We can help!

Listing Contact

Conrad Sarreal

Listing agent Conrad Sarreal

Listing office Matthews Real Estate Investment Services - Orange County

Listing date May 2, 2025

Source Moodyscre

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All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services - Orange County

HighLights

Shadow‑anchored by a high‑performing Walmart Supercenter.
Potential for a nearly 10% cap rate post‑stabilization.
Long‑term tenants: Dollar Tree, Cato, and Hong Kong Buffet have occupied the center for 20+ years.
Located in a high‑traffic retail corridor.
Proximity to major traffic drivers such as Home Depot, Kohl’s and Target.
Located in Mansfield, where manufacturing is the largest industry.

Overview

This retail property is shadow-anchored by a high-performing Walmart Supercenter, attracting approximately 2.6 million annual customers. The property currently has 23% vacancy. The three largest tenants, Dollar Tree, Cato, and Hong Kong Buffet, occupy 41% of the center and have been tenants for over 20 years. The property is located on Lexington-Springmill Rd, near millions of square feet of retail space, including Home Depot, Kohl's and Burlington shopping center, Ontario Center shopping mall, Hobby Lobby, Lowe's, Sam's Club, Menards, and Target. Manufacturing is the largest industry by employment in Mansfield, with approximately 3,500 workers. Key employers include Gorman-Rupp (undergoing a $52.2M expansion), Ohio Valley Manufacturing (auto and defense parts), and Rable Machine. Healthcare is the second-largest sector, led by OhioHealth, the county's largest employer with over 2,500 employees, along with Third Street Family Health Services.

Property Profile Location Intelligence

Current Use by Public Records

Shopping centers

Suggested Use

Location Insight

Map
Local Demand

City: Mansfield
County: Richland
State: Ohio
Longitude: -82.5898
Latitude: 40.7503

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For sale
Shopping centers
OH
Mansfield
331 N Lexington Springmill Rd

What type of property is this?

Shopping center - Retail property shadow-anchored by high-performing Walmart Supercenter.

Where is this shopping center located?

The property is located at 331 N Lexington Springmill Rd Mansfield, OH.

What is the asking price?

The asking price for this property is $5,791,000.

What are key features of this property?

This property features: Shadow‑anchored by a high‑performing Walmart Supercenter.; Potential for a nearly 10% cap rate post‑stabilization.; Long‑term tenants: Dollar Tree, Cato, and Hong Kong Buffet have occupied the center for 20+ years.

331 N Lexington Springmill Rd, Mansfield, OH

Retail property shadow-anchored by high-performing Walmart Supercenter.

Property Features for 331 N Lexington Springmill Rd

General Information

Properties For Sale

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Corner-Lot Retail Store with Drive-Through

Mansfield Redevelopment Opportunity

High-Traffic Commercial Location in Mansfield

Mansfield Retail Landmark For Sale

Versatile Commercial Property in Mansfield

Greenhouse and Garden Center Opportunity

7-Unit Apartment Building

Mansfield Commercial Building For Sale

Turnkey Restaurant with Drive-Thru Potential

Mansfield Restaurant Opportunity For Sale

Downtown Mansfield Creative Commercial Space

Versatile Commercial Property in Mansfield

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