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    756 Ashland Rd Mansfield, OH 44905

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    For Sale
    Contact for pricing

    High-yield retail investment, strong tenant.

    Property size:
    19,840 SF

    Property Features for 756 Ashland Rd

    General Information

    Property type
    Retail space
    Square Feet
    19,840 SF
    Lot Size
    223,898 SF

    Building Details

    Year Built/Renovated
    1967/2013
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Blake Davey
    Blake Davey

    Listing Agency: Marcus & Millichap Orange County Listing Agent: Blake Davey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional investment opportunity presents a fee-simple ownership of a Dollar General store located at 756 Ashland Rd, Mansfield, OH 44905. The 19,840 square foot building, constructed in 1967 and renovated in 2013, sits on a 5.14-acre lot and features 12,525 square feet of net rentable space. Currently operating under a triple-net (NNN) lease with Dollar General (NYSE: DG), a credit-rated, publicly traded corporation, the property boasts a 9.50% cap rate and a strong NOI of $91,388. The lease, commenced April 14, 2013, has a remaining term of approximately 3.4 years, with two 5-year options at a 10% rent increase per option period. The first option was exercised in 2023, demonstrating the tenant's commitment. The property is zoned commercial and enjoys 100% occupancy. This is a single-tenant, single-story building in a prime location, serving a substantial population within a 5-mile radius (66,771 residents). The current rent is $8.16 per square foot, reflecting a healthy return on investment. This is a rare opportunity to acquire a stable, high-performing retail asset with a nationally recognized tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western Union Bank Dollar General Discount Store

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.4870358
    Latitude
    40.7683945

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    FAQs

    What type of property is this?
    Retail space - High-yield retail investment, strong tenant.
    Where is this retail space located?
    The property is located at 756 Ashland Rd Mansfield, OH.
    What is the asking price?
    The asking price for this property is $961,979.
    What are key features of this property?
    This property features: Dollar General, a Fortune 500 company, has occupied this property for over 11 years, paying strong rent of $8.16/SF.; Dollar General is exercising its first option period, indicating long-term commitment.; Tenant pays NNN (Net, Net, Net) expenses.
    Request Owner's contact information
    756 Ashland Rd Mansfield, OH 44905
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    Mansfield, OH 44905
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    756 Ashland Rd Mansfield, OH 44905
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    Contact for Pricing
    Please call us for current price
    and status of this listing Blake Davey
    Blake Davey
    Real Estate License ID: 01994926
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