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    1230 Lexington Ave, Unit Unit 100 - 102 Mansfield, OH 44907
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    Property profile & analytics

    1230 Lexington Ave, Unit Unit 100 - 102, Mansfield, OH 44907

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    • Office buildings
    • 13,843 SF
    • 0.67 lot acres
    For Sale
    $810,000
    View Listing →
    Professional Office Space For Lease For Sale
    $810,000
    1,417 SF

    Professional Office Space For Lease

    Office unit available for lease in Mansfield, Ohio.

    1230 Lexington Ave, Unit 201, Mansfield, OH 44907
    View Listing
    Property ID
    US66-0468876
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stepmobile / (Bike/Boat/Book/etc) Store / Corporate Office
    • Matthew Trittschuh Insurance Agency / Insurance Agency
    • New Dawn Center For Healthy Families / Marriage Or Relationship Counselor
    • Personal Wealth Solutions / Financial Advisor
    • loanDepot / Loan Service / Bank

    Property Details for 1230 Lexington Ave

    Year built
    1973
    Lot size
    0.67 lot acres
    Property type
    Office buildings
    APN
    056-92-160-04-000
    APU
    569216004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $896,000
      Market price range: $402k - $1.54M
      AI Estimate
      $853,000
      Market price range: $402k - $1.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $900,000
      Current use
      AUTO REPAIR, GARAGE
      $875,000
      Change: -3% Conversion: Difficult
      MEDICAL BUILDING
      $855,000
      Change: -5% Conversion: Easy
      RETAIL STORES
      $830,000
      Change: -8% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $765,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5409
    Latitude
    40.7252
    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
    $15,849
    $59,430
    $197,210
    $256,640
    -
    $169,790
    $563,460
    $733,250

    Comparable in this City

    • Value Estimation by Request
      4,418 SF

      1616 Lexington Ave

      OFFICE BUILDING (MULTI-STORY)
      1616 Lexington Ave, Mansfield, OH 44907-2907
      View Details
    • Value Estimation by Request
      1,910 SF

      1177 Lexington Ave

      OFFICE BUILDING (MULTI-STORY)
      1177 Lexington Ave, Mansfield, OH 44907-2252
      View Details
    • Value Estimation by Request
      4,200 SF

      1221 Trimble Rd Ste B2

      OFFICE BUILDING (MULTI-STORY)
      1221 Trimble Rd Ste B2, Mansfield, OH 44907-2212
      View Details
    • Value Estimation by Request
      4,608 SF

      1600 Lexington Ave

      OFFICE BUILDING (MULTI-STORY)
      1600 Lexington Ave, Mansfield, OH 44907-2907
      View Details
    • Value Estimation
      $970,000
      10,000 SF

      13 State St

      OFFICE BUILDING (MULTI-STORY)
      13 State St, Mansfield, OH 44907-1345
      View Details
    • Value Estimation by Request
      1,120 SF

      162 Lexington Ave

      OFFICE BUILDING (MULTI-STORY)
      162 Lexington Ave, Mansfield, OH 44907-1221
      View Details

    Similar Nearby for Sale

    • New
      $1,400,000
      13,568 SF

      Office Building on SR 42

      Office building with high visibility and income-producing tenants.
      775 Lexington Ave, Mansfield, OH 44907
      View Details
    • Contact for pricing
      13,021 SF

      Medical Office Building For Sale

      13,021 SF medical office building on 3.67 acres.
      240 W Cook Rd, Mansfield, OH 44907
      View Details
    • Contact for pricing
      Pending

      Retail/Office Space in Mansfield, OH

      9500 sq ft retail/office space in Appleseed Shopping Center.
      1436 Lexington Ave, Mansfield, OH 44907
      View Details
    • New
      $120,000
      1.72 Acres

      Commercial Land in Mansfield, OH

      1.72 acre parcel ideal for medical or professional office.
      1150 Aspira Ct, Mansfield, OH 44907
      View Details
    • Contact for pricing
      13,021 SF

      Medical Office Building with Surgery

      Freestanding medical office with surgery center for sale.
      240 W Cook Rd, Mansfield, OH 44907
      View Details
    • Contact for pricing
      1,417 SF

      Professional Office Space For Lease

      Office unit available for lease in Mansfield, Ohio.
      1230 Lexington Ave, Mansfield, OH 44907
      View Details
    View Listing
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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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