Office Building with
New
For Sale
$349,900
255 Sterkel Boulevard, Mansfield, OH 44907
Office zoning and assigned parking support professional occupancy.
Property Size1,780 SF
Days on Market3
Property Features for 255 Sterkel Boulevard
General Information
Standard status
Active
Size
1,780 SF
Zoning
Office
Taxes and HOA fees
Annual Taxes
$6,182
Amenities
Lunchroom, MeetingRooms, PrivateRestrooms, ReceptionArea
Ceiling Fan(s)
Fireplace(s)
Gas
Additional Parking, Assigned
Building Details
Building Size
1,780 SF
Year Built
2007
Listing Agency:
Keller Williams Legacy Group Realty
Listed By:
Jonathan M Burris · License #2008003427
(330) 704-6524
Source:
Evrealestate
Added: Oct 19
Last Checked: Oct 20 at 9:06PM
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 Keller Williams Legacy Group Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2007 office building includes a fireplace, ceiling fan(s), and gas service. Office zoning supports its designated commercial classification.
The property is located in Sterkel Park in Mansfield, with directions via Lexington to Sterkel. Additional parking is available, including assigned spaces.
The property is located in Sterkel Park in Mansfield, with directions via Lexington to Sterkel. Additional parking is available, including assigned spaces.
Key Highlights
- Built in 2007
- Office zoning
- Fireplace and ceiling fan(s)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,743
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,860
$374.9K
Cap Rate 7%
$267,757
$267.8K
Cap Rate 9%
$208,256
$208.3K
Market Conditions
NOI Build-Up for 1,780 SF
Gross rent
$32.0K $18.00/SF
− Vacancy
−$7.0K −$3.96/SF
EGI
$25.0K $14.04/SF
− OpEx
−$6.2K −$3.51/SF
NOI
$18.7K $10.53/SF
Area
Richland County, OH
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,860
Cap Rate 7%
$267,757
Cap Rate 9%
$208,256
Alternative Uses
Best Use
Office B
$267.8K
$234.3K – $312.4K
NOI $18,743 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.1K
$313.4K – $417.8K
NOI $25,068 @ 7.0% cap · market cap 7.16%
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
479
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office zoning and assigned parking support professional occupancy.
Where is this office building located?
The property is located at 255 Sterkel Boulevard Mansfield, OH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Built in 2007; Office zoning; Fireplace and ceiling fan(s)
