756 Ashland Rd Mansfield, OH 44905
- Retail properties
- 19,840 SF
- 5.14 lot acres
Current Use by Public Records
- Western Union / Money Transfer Service
- Dollar General / Dollar Store / Beauty Supply Store
Property Details for 756 Ashland Rd
- Year built
- 1967
- Lot size
- 5.14 lot acres
- Property size
- 19,840 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mansfield
- County
- Richland
- State
- Ohio
- Longitude
- -82.487
- Latitude
- 40.7684
