Flex Space with Garage
For Sale
$169,900
Pending
782 Park Ave E, Mansfield, OH 44905
Steel-sided commercial building with flexible interior space, updated lighting, heating, and a separate office structure.
Property Size1,972 SF
Days on Market56
Property Features for 782 Park Ave E
General Information
Standard status
Pending
Size
1,972 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$391
Building Details
Buildings
2
Construction
steel sided
Listing Agency:
The Holden Agency
(419) 525-5525
Listed By:
Valerie Roemer
(419) 908-5855
Source:
Exprealty
Added: Aug 21
Changed: Oct 1
Last Checked: Oct 15 at 2:27AM
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 The Holden Agency
Investment Insights
Based on property information with market context.
This flex property at 782 Park Ave E includes a steel-sided main building with 1,972 square feet on the primary level and a second 1,972-square-foot loft reached by exterior stairs. The loft provides additional storage space or room for future expansion. The main building includes two garage bays, a newly renovated half-bathroom, new interior lighting, a gas heater, and a new hollow metal door. The front bay has an automatic opener, while the rear bay features a new automatic lift door.
Improvements include new paint, new LED exterior lighting, and replacement rubber roofing on the front 24 feet of the building in 2023. A separate 588-square-foot building adds office space or potential rental space. The property is commercially zoned and located near Routes 430, 39, and 42, as well as the Illinois commercial corridor.
Improvements include new paint, new LED exterior lighting, and replacement rubber roofing on the front 24 feet of the building in 2023. A separate 588-square-foot building adds office space or potential rental space. The property is commercially zoned and located near Routes 430, 39, and 42, as well as the Illinois commercial corridor.
Key Highlights
- 1,972 SF main level with an additional 1,972 SF loft
- Two garage door bays; front opener and rear automatic lift
- Separate 588‑square‑foot building for office or potential rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,840
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,800
$196.8K
Cap Rate 7%
$140,571
$140.6K
Cap Rate 9%
$109,333
$109.3K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$12.6K $6.41/SF
− Vacancy
−$1.1K −$0.54/SF
EGI
$11.6K $5.87/SF
− OpEx
−$1.7K −$0.88/SF
NOI
$9.8K $4.99/SF
Area
Richland County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,800
Cap Rate 7%
$140,571
Cap Rate 9%
$109,333
Alternative Uses
Best Use
Warehouse
$140.6K
$123.0K – $164.0K
NOI $9,840 @ 7.0% cap · market cap 5.79%
Second Best
Industrial
$115.8K
$101.3K – $135.1K
NOI $8,103 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$396.7K
$347.2K – $462.9K
NOI $27,772 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44905, OH
16,827
Population
5,227
Households
3.2
Avg Household Size
39
Median Age
6%
College-Educated
82%
High-School Grad
12.8 sq mi
ZIP Area
1,315
Density / Sq Mi
$55,716
Median Household Income
$34,765
Median Earnings
$859
Median Rent
$111,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Steel-sided commercial building with flexible interior space, updated lighting, heating, and a separate office structure.
Where is this flex space located?
The property is located at 782 Park Ave E Mansfield, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,972 SF main level with an additional 1,972 SF loft; Two garage door bays; front opener and rear automatic lift; Separate 588‑square‑foot building for office or potential rental use
