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    Property profile & analytics

    665 Lexington Ave Mansfield, OH 44907-1504

    • Office buildings
    • 79,731 SF
    • 10.43 lot acres
    OFF-MARKET
    Value Estimations
    $2,330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1609431
    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

    • CenturyLink Corporate Office / Telecommunications Service / Data Center

    Property Details for 665 Lexington Ave

    Year built
    1969
    Lot size
    10.43 lot acres
    Property size
    79,731 SF
    Property type
    Office buildings
    APN
    028-90-900-07-001
    APU
    289090007001

    Description

    This exceptional 79,731 square foot office building presents a compelling investment opportunity at 665 Lexington Avenue in Mansfield, Ohio. The property boasts a modern design and is strategically located, making it suitable for a wide range of businesses. Its versatility is a key asset

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,174,000
      Market price range: $2.32M - $8.89M
      AI Estimate
      $3,020,000
      Market price range: $2.32M - $7.32M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5302
    Latitude
    40.7359
    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
    $70,515
    $92,430
    $816,200
    $908,630
    -
    $264,090
    $2,332,000
    $2,596,090

    Comparable in this City

    • Value Estimation
      $595,000
      1,775 SF

      1221 Trimble Rd Ste B1

      OFFICE BUILDING (MULTI-STORY) • 1,775 SF
      1221 Trimble Rd Ste B1, Mansfield, OH 44907-2212
      View Details
    • Value Estimation by Request
      4,722 SF

      1215 Lexington Ave

      OFFICE BUILDING (MULTI-STORY) • 4,722 SF
      1215 Lexington Ave, Mansfield, OH 44907-2613
      View Details
    • Value Estimation by Request
      2,792 SF

      1082 Lexington Ave, Unit 1092

      OFFICE BUILDING (MULTI-STORY) • 2,792 SF
      1082 Lexington Ave, Mansfield, OH 44907-2250
      View Details
    • Value Estimation by Request
      5,576 SF

      1221st S Trimble Rd

      OFFICE BUILDING (MULTI-STORY) • 5,576 SF
      1221st S Trimble Rd, Mansfield, OH 44907-2229
      View Details
    • Value Estimation by Request
      4,243 SF

      1221st S Trimble Rd

      OFFICE BUILDING (MULTI-STORY) • 4,243 SF
      1221st S Trimble Rd, Mansfield, OH 44907-2229
      View Details
    • Value Estimation
      $955,000
      9,400 SF

      1575 Lexington Ave

      OFFICE BUILDING (MULTI-STORY) • 9,400 SF
      1575 Lexington Ave, Mansfield, OH 44907-2631
      View Details

    Similar Nearby for Sale

    • $1,400,000
      13,568 SF

      Office Building on SR 42

      L-shaped office building with high visibility and traffic count.
      775 Lexington Ave, Mansfield, OH 44907
      View Details
    • $1,953,150
      13,021 SF

      Mansfield Medical Office Building

      13,021 SF Medical Office, High NOI
      240 Cook Rd, Mansfield, OH 44907
      View Details
    • Contact for pricing
      1,417 SF

      Professional Office Space Available

      Office space for lease in a high-traffic location.
      1230 Lexington Ave, Mansfield, OH 44907
      View Details
    • $1,300,000
      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
      750 SF

      Versatile Commercial Space in Mansfield

      750 sq ft commercial space ideal for various businesses.
      270 Lexington Ave, Mansfield, OH 44907
      View Details
    • Contact for pricing
      2,795 SF

      Professional Office Space Available

      Office space for lease in a high-traffic location.
      1230 Lexington Ave, Mansfield, OH 44907
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr

      Freestanding Retail Building on Lexington

      5,675 SF retail space with high visibility and parking.
      177 Lexington Ave, Mansfield, OH 44907
      View Details
    • Contact for pricing

      Mansfield Flex Space For Rent

      Large flex space with retail frontage and warehouse functionality.
      660 S Diamond St, Mansfield, OH 44907
      View Details
    • $8 SF/Yr

      Freestanding Retail Building on Lexington

      5,675 SF retail space with visibility and dedicated parking.
      177 Lexington Ave, Mansfield, OH 44907
      View Details
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    665 Lexington Ave
    Mansfield, OH 44907-1504
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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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