1282 Park W Ave Mansfield, OH 44906-2800

Property Details for 1282 Park W Ave

Year built

1964

Lot size

1.01 lot acres

Property size

8,190 SF

Property type

Auto shops

APN

027-03-002-03-004

APU

270300203004

Description

This exceptional investment opportunity presents a single-tenant, net-leased Firestone auto shop located at 1282 Park Ave W, Mansfield, OH 44906. The 8,304 square foot building sits on a 1.01-acre lot and boasts a 7.25% cap rate with a strong NOI of $71,400. Firestone, a subsidiary of investment-grade rated Bridgestone, has occupied this location since the 1970s, demonstrating long-term commitment. The current lease extends to January 31, 2030, with three 5-year renewal options, each including a 10% rent increase. The current rent is a low $8.60 per square foot. This property benefits from its strategic location on a Kroger outparcel, along Park Avenue West (over 18,500 vehicles per day), and near US Route 30. The area features strong demographics, with 68,372 people within a five-mile radius and an average annual household income of $65,473. Nearby businesses include Walgreens, Chase Bank, and other national retailers. The property was renovated in 1998. This is a rare opportunity to acquire a stable, high-performing investment with a blue-chip tenant and significant upside potential. The property's location near a recently redeveloped U-Haul self-storage facility further enhances its visibility and appeal.

Location Insight

City

Mansfield

County

Richland

State

Ohio

Longitude

-82.5627

Latitude

40.7598

CBSA code

31900

CBSA name

MANSFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments