White-Box Retail
1462 Lexington Avenue, Mansfield, OH 44907
For Sale
Contact for pricing
Pending
The open-plan space includes a restroom and is situated among established retail and dining businesses.
Property Size1,800 SF
Days on Market1518
Property Features for 1462 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 10
Last Checked: Nov 12 at 11:06AM
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.
This 1,800-square-foot retail suite in Appleseed Shopping Center offers an open interior and one restroom. The space is slated for white-box delivery, allowing the incoming occupant to plan its own interior finish. A modern exterior renovation is underway under new ownership and management.
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. Inline businesses include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree.
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. Inline businesses include H&R Block, Great Clips, Ollie’s Outlet, and Dollar Tree.
Key Highlights
- 1,800 square feet of open retail or office space
- One restroom
- White‑box delivery planned
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,382
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,640
$347.6K
Cap Rate 7%
$248,314
$248.3K
Cap Rate 9%
$193,133
$193.1K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$25.9K $14.40/SF
− Vacancy
−$1.1K −$0.60/SF
EGI
$24.8K $13.80/SF
− OpEx
−$7.4K −$4.14/SF
NOI
$17.4K $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%
$347,640
Cap Rate 7%
$248,314
Cap Rate 9%
$193,133
Alternative Uses
Best Use
Retail
$248.3K
$217.3K – $289.7K
NOI $17,382 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.1K
$316.9K – $422.5K
NOI $25,350 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property 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
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 open-plan space includes a restroom and is situated among established retail and dining businesses.
Where is this retail space located?
The property is located at 1462 Lexington Avenue Mansfield, OH.
What are key features of this property?
This property features: 1,800 square feet of open retail or office space; One restroom; White‑box delivery planned
