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    Property profile & analytics

    1 Marion Ave Mansfield, OH 44903

    • Office buildings
    • 33,051 SF
    • 0.64 lot acres
    For Sale
    View listing
    $1,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0155126
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Barmesa Pumps USA (Sales Office) / Industrial Equipment Supplier
    • Heartland Hearing Center / Hearing Aid Store
    • CCCS-Central Ohio-A / Credit Counseling Service
    • Continental Home Health Care / Home Health Care Service
    • First Federal Community Bank - Lending Center / Mortgage Lender

    Property Details for 1 Marion Ave

    Year built
    1974
    Lot size
    0.64 lot acres
    Property size
    33,051 SF
    Property type
    Office buildings
    APN
    027-01-104-05-000
    APU
    270110405000

    Description

    This exceptional 545-square-foot office suite, located within the Marion 1 Building in the vicinity of downtown Mansfield, Ohio, presents a fantastic opportunity for businesses seeking a convenient and functional workspace. Situated in a three-story, 27,768-square-foot Class C building constructed in 1974, this single-tenant space offers two distinct rooms, ideal for a reception area and private office or other configurations to suit your needs. The suite benefits from readily accessible men's and women's restrooms located nearby. The building itself sits on a 0.637-acre lot and includes elevators for convenient access to all three floors. This property is perfect for a small business or individual professional seeking a well-located, private office space. The suite's layout provides flexibility for various business configurations, allowing you to tailor the space to your specific operational requirements. The convenient location near downtown Mansfield offers easy access to local amenities and transportation networks. This is a rare opportunity to secure a well-maintained office space in a desirable location. The building's features, including elevators, contribute to a comfortable and efficient work environment. Don't miss this chance to establish your business in this attractive and functional office suite.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5237
    Latitude
    40.7584
    CBSA code
    31900
    CBSA name
    MANSFIELD, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,959
    $32,070
    $264,100
    $296,170
    -
    $91,630
    $754,580
    $846,210

    Comparable in this City

    • Value Estimation
      $470,000
      27,360 SF

      Crall Rd

      OFFICE BUILDING (MULTI-STORY) • 27,360 SF
      Crall Rd, Mansfield, OH 44903
      View Details
    • Value Estimation
      $8,970,000
      1,152 SF

      2384 Springmill Rd

      OFFICE BUILDING (MULTI-STORY) • 1,152 SF
      2384 Springmill Rd, Mansfield, OH 44903-8009
      View Details
    • Value Estimation
      $190,000
      5,562 SF

      233-235 Marion Ave

      OFFICE BUILDING (MULTI-STORY) • 5,562 SF
      233-235 Marion Ave, Mansfield, OH 44903
      View Details
    • Value Estimation
      $85,000
      1,500 SF

      217 Marion Ave

      OFFICE BUILDING (MULTI-STORY) • 1,500 SF
      217 Marion Ave, Mansfield, OH 44903-2111
      View Details
    • Value Estimation
      $1,870,000
      1,344 SF

      400 Crall Rd

      OFFICE BUILDING (MULTI-STORY) • 1,344 SF
      400 Crall Rd, Mansfield, OH 44903-9505
      View Details
    • Value Estimation
      $560,000
      2,520 SF

      4116 Park W Ave

      OFFICE BUILDING (MULTI-STORY) • 2,520 SF
      4116 Park W Ave, Ontario, OH 44903-8589
      View Details

    Similar Nearby for Sale

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      Office Suite in Mansfield, OH

      Office suite featuring multiple rooms and waiting area for lease.
      1 Marion Ave, Mansfield, OH 44903
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      Downtown Mansfield Office Suite

      Office suite in downtown Mansfield with utilities included.
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    1 Marion Ave
    Mansfield, OH 44903
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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
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