Open-Plan Retail
1450 Lexington Avenue, Mansfield, OH 44907
For Sale
Contact for pricing
Pending
White-box delivery and an in-suite restroom allow the next occupant to configure the space.
Property Size3,500 SF
Days on Market1518
Property Features for 1450 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 2:51PM
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 3,500-square-foot retail suite at 1450 Lexington Avenue offers an open interior and one restroom. The space is scheduled for white-box delivery, providing a clean starting point for a new layout. The property is part of Appleseed Shopping Center in Mansfield, Ohio.
The center sits at the signal-controlled intersection of Lexington Avenue (SR 42) and Trimble Road. Nearby national chain anchors include Kroger Marketplace, McDonald’s, Panera Bread, and Monro Muffler; center tenants also include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree. Exterior renovation plans are underway.
The center sits at the signal-controlled intersection of Lexington Avenue (SR 42) and Trimble Road. Nearby national chain anchors include Kroger Marketplace, McDonald’s, Panera Bread, and Monro Muffler; center tenants also include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree. Exterior renovation plans are underway.
Key Highlights
- 3,500 square feet of open retail/office space
- One restroom within the suite
- White‑box delivery planned
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
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.2K
$616.1K – $821.5K
NOI $49,291 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 - White-box delivery and an in-suite restroom allow the next occupant to configure the space.
Where is this retail space located?
The property is located at 1450 Lexington Avenue Mansfield, OH.
What are key features of this property?
This property features: 3,500 square feet of open retail/office space; One restroom within the suite; White‑box delivery planned
