Corner Lot Flex
For Sale
$99,900
Pending
426 S Diamond St, Mansfield, OH 44902
Flex warehouse on a corner lot with two drive-in doors, front retail/office area, and ample on-site parking.
Property Size2,156 SF
Days on Market73
Property Features for 426 S Diamond St
General Information
Standard status
Pending
Size
2,156 SF
Zoning
B-1
Additional Details
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$1,060
Listing Agency:
Haring Realty, Inc.
(419) 571-2276
Listed By:
Nathan B. Neal · License #2014000903
(419) 571-2276
Source:
Exprealty
Added: Jun 19
Changed: Aug 21
Last Checked: Aug 29 at 1:03PM
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 Haring Realty, Inc.
Investment Insights
Based on property information with market context.
This flex warehouse offers a combination of functional warehouse space and a front retail/office area. The building includes two drive-in doors, supporting practical vehicle and delivery access. The property also provides ample on-site parking to serve customer and contractor needs.
The site is positioned on a corner lot with excellent visibility and strong traffic volume. Please note the property is subject to deed restrictions that prohibit certain uses, including convenience stores, fuel centers, and tobacco/alcohol sales; the full list is available in the attached deed restrictions or through the agent.
Zoned B-1, the building is well suited for a variety of commercial or contractor-type uses consistent with the deed restrictions.
The site is positioned on a corner lot with excellent visibility and strong traffic volume. Please note the property is subject to deed restrictions that prohibit certain uses, including convenience stores, fuel centers, and tobacco/alcohol sales; the full list is available in the attached deed restrictions or through the agent.
Zoned B-1, the building is well suited for a variety of commercial or contractor-type uses consistent with the deed restrictions.
Key Highlights
- Zoned B‑1 and located on a corner lot with strong traffic volume and visibility
- Building includes two drive‑in doors plus a front retail/office area
- Ample on‑site parking included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,859
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,180
$177.2K
Cap Rate 7%
$126,557
$126.6K
Cap Rate 9%
$98,433
$98.4K
Market Conditions
NOI Build-Up for 2,156 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.8K $6.41/SF
− Vacancy
−$1.2K −$0.54/SF
EGI
$12.7K $5.87/SF
− OpEx
−$3.8K −$1.76/SF
NOI
$8.9K $4.11/SF
Area
Richland County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,180
Cap Rate 7%
$126,557
Cap Rate 9%
$98,433
Alternative Uses
Best Use
Warehouse
$153.7K
$134.5K – $179.3K
NOI $10,758 @ 7.0% cap · market cap 10.77%
Second Best
Industrial
$126.6K
$110.7K – $147.7K
NOI $8,859 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 30.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44902, OH
4,891
Population
2,240
Households
2.2
Avg Household Size
35
Median Age
4%
College-Educated
83%
High-School Grad
2.0 sq mi
ZIP Area
2,446
Density / Sq Mi
$31,619
Median Household Income
$25,636
Median Earnings
$842
Median Rent
$58,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse on a corner lot with two drive-in doors, front retail/office area, and ample on-site parking.
Where is this flex space located?
The property is located at 426 S Diamond St Mansfield, OH.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Zoned B‑1 and located on a corner lot with strong traffic volume and visibility; Building includes two drive‑in doors plus a front retail/office area; Ample on‑site parking included
