Retail/Office Space in Shopping
For Sale
Contact for pricing
Pending
1450 Lexington Ave, Mansfield, OH 44907
3500 SF retail/office space in a high-traffic shopping center.
Property Size3,500 SF
Days on Market1488
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Property Features for 1450 Lexington Ave
General Information
Standard status
Pending
Size
3,500 SF
Taxes and HOA fees
Annual Taxes
$437
Listing Agency:
RE/MAX First Realty
(419) 756-4663
Listed By:
Faith I Deal · License #2002007872
(419) 610-6588
Source:
Exprealty
Added: Sep 19, 2022
Changed: Oct 12
Last Checked: Oct 15 at 4:35AM
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
Investment Insights
Based on property information with market context.
Located in the Appleseed Shopping Center at the signalized intersection of Lexington Ave (SR 42) & Trimble Rd, this unit offers 3500 square feet of retail or office space. The space is a wide-open layout with one restroom and will be delivered in white box condition, 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, and Monro Muffler. Inline tenants include H & R Block, Great Clips, Ollie's Outlet, and Dollar Tree. The property offers signage visibility, potentially boosting business and generating increased traffic.
Key Highlights
- Located in the high‑traffic Appleseed Shopping Center at a signalized intersection.
- Shadow‑anchored by Kroger Marketplace, McDonald's, Panera Bread, and Monro Muffler.
- 3,500 sq ft of wide‑open retail/office space.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,798
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,960
$676.0K
Cap Rate 7%
$482,829
$482.8K
Cap Rate 9%
$375,533
$375.5K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$50.4K $14.40/SF
− Vacancy
−$2.1K −$0.60/SF
EGI
$48.3K $13.80/SF
− OpEx
−$14.5K −$4.14/SF
NOI
$33.8K $9.66/SF
Area
Richland County, OH
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,960
Cap Rate 7%
$482,829
Cap Rate 9%
$375,533
Alternative Uses
Best Use
Retail
$482.8K
$422.5K – $563.3K
NOI $33,798 @ 7.0% cap · market cap 1,655.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.2K
$616.1K – $821.5K
NOI $49,291 @ 7.0% cap · market cap 2,413.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 44907, OH
15,014
Population
7,798
Households
1.9
Avg Household Size
44
Median Age
19%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
1,925
Density / Sq Mi
$44,033
Median Household Income
$34,528
Median Earnings
$788
Median Rent
$130,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - 3500 SF retail/office space in a high-traffic shopping center.
Where is this retail space located?
The property is located at 1450 Lexington Ave Mansfield, OH.
What are key features of this property?
This property features: Located in the high‑traffic Appleseed Shopping Center at a signalized intersection.; Shadow‑anchored by Kroger Marketplace, McDonald's, Panera Bread, and Monro Muffler.; 3,500 sq ft of wide‑open retail/office space.**
