White Box Retail/Office
For Sale
Contact for pricing
Pending
1446 Lexington Ave, Mansfield, OH 44907
Spacious retail/office space in Appleseed Shopping Center with flexible interior layout and strong tenant mix nearby.
Property Size3,675 SF
Days on Market1493
Property Features for 1446 Lexington Ave
General Information
Standard status
Pending
Size
3,675 SF
Taxes and HOA fees
Annual Taxes
$459
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 2
Last Checked: Oct 19 at 10:45AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit #1446 at Appleseed Shopping Center offers retail/office space designed for flexibility, with a wide-open layout and one restroom. The unit is white box ready, allowing an incoming tenant to design the interior to fit their operation. Plans for a modern-style exterior remodel are underway, with new ownership and management in place.
The center is located in the heart of the retail district at the signalized intersection of Lexington Ave (SR 42) and Trimble Rd. Signage visibility is available, and the surrounding tenant environment is supported by national chain shadow anchors including Kroger Marketplace, McDonald’s, Panera Bread, and Monro Muffler. Inline tenants in the shopping center include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree.
This unit is well suited for a business that benefits from a customizable interior paired with a surrounding retail customer base. The open plan and white box condition make it practical for uses that need a build-out tailored to branding, merchandising, or service workflow, while the existing restroom supports day-to-day operations. New leasing incentives are also being offered under the current ownership and management team.
The center is located in the heart of the retail district at the signalized intersection of Lexington Ave (SR 42) and Trimble Rd. Signage visibility is available, and the surrounding tenant environment is supported by national chain shadow anchors including Kroger Marketplace, McDonald’s, Panera Bread, and Monro Muffler. Inline tenants in the shopping center include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree.
This unit is well suited for a business that benefits from a customizable interior paired with a surrounding retail customer base. The open plan and white box condition make it practical for uses that need a build-out tailored to branding, merchandising, or service workflow, while the existing restroom supports day-to-day operations. New leasing incentives are also being offered under the current ownership and management team.
Key Highlights
- Retail/office unit #1446 offers 3,675 SF of open flexible space plus one restroom
- White‑box ready unit with wide open layout for tenant customization
- Appleseed Shopping Center location at the signalized intersection of Lexington Ave (SR 42) and Trimble Rd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,488
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,760
$709.8K
Cap Rate 7%
$506,971
$507.0K
Cap Rate 9%
$394,311
$394.3K
Market Conditions
NOI Build-Up for 3,675 SF
Gross rent
$52.9K $14.40/SF
− Vacancy
−$2.2K −$0.60/SF
EGI
$50.7K $13.80/SF
− OpEx
−$15.2K −$4.14/SF
NOI
$35.5K $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%
$709,760
Cap Rate 7%
$506,971
Cap Rate 9%
$394,311
Alternative Uses
Best Use
Retail
$507.0K
$443.6K – $591.5K
NOI $35,488 @ 7.0% cap · market cap 1,655.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.4K
$647.0K – $862.6K
NOI $51,756 @ 7.0% cap · market cap 2,413.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
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 - Spacious retail/office space in Appleseed Shopping Center with flexible interior layout and strong tenant mix nearby.
Where is this retail space located?
The property is located at 1446 Lexington Ave Mansfield, OH.
What are key features of this property?
This property features: Retail/office unit #1446 offers 3,675 SF of open flexible space plus one restroom; White‑box ready unit with wide open layout for tenant customization; Appleseed Shopping Center location at the signalized intersection of Lexington Ave (SR 42) and Trimble Rd
