Open-Plan Retail
1446 Lexington Avenue, Mansfield, OH 44907
For Sale
Contact for pricing
Pending
The space is slated for white-box delivery, allowing the next occupant to configure the interior.
Property Size3,675 SF
Days on Market1518
Property Features for 1446 Lexington Avenue
General Information
Standard status
Size
Additional Details
Anchor Co-Tenants
Taxes and HOA fees
Annual Taxes
Listing Agency:
RE/MAX First Realty
(419) 756-4663
Listed By:
Faith I Deal · License OH #2002007872
(419) 610-6588
Source:
Exprealty
Added: Sep 19, 2022
Changed: Nov 12
Last Checked: Nov 12 at 2:23PM
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
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Investment Insights
Based on property information with market context.
This 3,675-square-foot retail and office unit in Appleseed Shopping Center has an open layout and one restroom. White-box delivery is planned, leaving the interior ready for the next occupant’s design and finish choices.
The center sits at the signal-controlled junction of Lexington Avenue (SR 42) and Trimble Road. Nearby national chain anchors include Kroger Marketplace, McDonald's, Panera Bread, and Monro Muffler. H & R Block, Great Clips, Ollie's Outlet, and Dollar Tree are among the inline tenants.
The center sits at the signal-controlled junction of Lexington Avenue (SR 42) and Trimble Road. Nearby national chain anchors include Kroger Marketplace, McDonald's, Panera Bread, and Monro Muffler. H & R Block, Great Clips, Ollie's Outlet, and Dollar Tree are among the inline tenants.
Key Highlights
- 3,675 square feet of retail and office space
- Open‑plan interior with one restroom
- White‑box delivery planned
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
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.4K
$647.0K – $862.6K
NOI $51,756 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
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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
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Market
Properties on Market for Retail space in Mansfield
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The space is slated for white-box delivery, allowing the next occupant to configure the interior.
Where is this retail space located?
The property is located at 1446 Lexington Avenue Mansfield, OH.
What are key features of this property?
This property features: 3,675 square feet of retail and office space; Open‑plan interior with one restroom; White‑box delivery planned
