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Building Details

Year Built 1976

Listed By: Angelique LaFon-Hammond Show Phone

Source: Movenowohio

Added: Apr 24 Changed: Oct 13 Last Checked: Oct 7 at 8:52AM

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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 Angelique LaFon-Hammond

Investment Insights

Based on property information with market context.

The offering includes The Pizza Company business, its commercial building, and associated land at 1794 HARRINGTON MEMORIAL Road in Mansfield, Ohio. The 1,854-square-foot property sits on 0.5 acres pending lot split and includes a dining and food-service operation with two bathrooms and central air. The building was constructed in 1976.

The property is located within Mansfield's industrial park, near Lahm Regional Airport and the Air National Guard Base. Current operating hours are Monday through Friday from 9:30 AM to 6:00 PM. Recent capital improvements include a roof replacement completed 1 year ago and a furnace installed 2 years ago.

Key Highlights

• Business, building, and land offered together
• 1,854‑square‑foot commercial building on 0.5 acres pending lot split
• Located in Mansfield's industrial park near Lahm Regional Airport and the Air National Guard Base

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,257

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,140 $505.1K

Cap Rate 7%

$360,814 $360.8K

Cap Rate 9%

$280,633 $280.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,854 SF

Gross rent

$35.2K $18.96/SF

− Vacancy

−$1.5K −$0.80/SF

EGI

$33.7K $18.16/SF

− OpEx

−$8.4K −$4.54/SF

NOI

$25.3K $13.62/SF

Area

Richland County, OH

Vacancy

4.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,140

Cap Rate 7%

$360,814

Cap Rate 9%

$280,633

Alternative Uses

Best Use

Specialty Retail

$360.8K

$315.7K – $421.0K (±1% cap)

NOI $25,257 @ 7.0% cap · market cap 4.21%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$373.0K

$326.4K – $435.2K (±1% cap)

NOI $26,110 @ 7.0% cap · market cap 4.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

The Pizza Company Restaurant

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Furniture & Home Goods Grocery & Convenience Store Auto Repair Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44903, OH

25,613

Population

11,425

Households

2.2

Avg Household Size

42

Median Age

20%

College-Educated

92%

High-School Grad

114.1 sq mi

ZIP Area

224

Density / Sq Mi

$65,421

Median Household Income

$36,553

Median Earnings

$811

Median Rent

$177,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Operating pizza business with an established commercial building, land, central air, and two bathrooms.

Where is this conventional restaurant located?

The property is located at 1794 Harrington Memorial Road Mansfield Mansfield, OH.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Business, building, and land offered together; 1,854‑square‑foot commercial building on 0.5 acres pending lot split; Located in Mansfield's industrial park near Lahm Regional Airport and the Air National Guard Base