Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Bowman St Mansfield, OH 44903-4100

    • Grocery and convenience stores
    • 3,002 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2623553
    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

    • Papa Johnny's / (Bike/Boat/Book/etc) Store / Bar & Pub

    Property Details for 702 Bowman St

    Year built
    1979
    Lot size
    0.11 lot acres
    Property size
    3,002 SF
    Property type
    Grocery and convenience stores
    APN
    027-04-117-17-000
    APU
    270411717000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Richland
    State
    Ohio
    Longitude
    -82.5226
    Latitude
    40.777
    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
    $1,076
    $2,050
    $13,150
    $15,200
    -
    $5,860
    $37,570
    $43,430

    Comparable in this City

    • Value Estimation by Request
      2,532 SF

      289 Marion Ave

      CONVENIENCE STORE • 2,532 SF
      289 Marion Ave, Mansfield, OH 44903-2032
      View Details
    • Value Estimation by Request
      4,691 SF

      305 Marion Ave

      CONVENIENCE STORE • 4,691 SF
      305 Marion Ave, Mansfield, OH 44903-2032
      View Details
    • Value Estimation by Request
      2,609 SF

      162 Sturges Ave

      GROCERY, SUPERMARKET • 2,609 SF
      162 Sturges Ave, Mansfield, OH 44903-2313
      View Details
    • Value Estimation
      $7,075,000
      204,882 SF

      1355 Lexington Springmill Rd

      GROCERY, SUPERMARKET • 204,882 SF
      1355 Lexington Springmill Rd, Mansfield, OH 44903
      View Details
    • Value Estimation by Request
      2,520 SF

      302 Marion Ave

      CONVENIENCE STORE • 2,520 SF
      302 Marion Ave, Mansfield, OH 44903-2004
      View Details
    • Value Estimation by Request
      1,769 SF

      481 Springmill St

      CONVENIENCE STORE • 1,769 SF
      481 Springmill St, Mansfield, OH 44903-1132
      View Details

    Similar Nearby for Sale

    • $85,000
      1,770 SF

      Versatile Building Near Hospital

      1770 sq ft building suitable for office, retail, or medical.
      172 Sturges Ave, Mansfield, OH 44903
      View Details
    • $85,000
      1,770 SF

      Mansfield Commercial Building Near Hospital

      1770 SF building suitable for office, retail, or medical use.
      172 Sturges Ave, Mansfield, OH 44903
      View Details
    • $3,000,000
      311,000 SF

      Industrial Building in Mansfield, OH

      Industrial building for sale in Mansfield, Ohio, 311,000 square feet.
      1320 S Main St, Mansfield, OH 44903
      View Details
    • $100,000

      Industrial Land with Outdoor Storage

      Industrial land featuring I-2 zoning and outdoor storage.
      Longview Ave, Mansfield, OH 44903
      View Details
    • Contact for pricing
      6,272 SF

      Mansfield Office Building For Lease

      Office building for lease near Ohio Health Mansfield.
      370 Cline Ave, Mansfield, OH 44903
      View Details
    • New
      $60,000
      2.40 Acres

      Level Land Near Local Amenities

      2.404 acres of land close to local Mansfield amenities.
      Peterson Rd, Mansfield, OH 44903
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse Space Near Mansfield Airport

      Expandable warehouse space available for lease near Mansfield Airport.
      Mansfield, OH 44903
      View Details
    • $10 SF/Yr
      1,175 SF

      Mansfield Office Space: 1175 sq ft

      Prime Mansfield office, versatile layout, ready for your business.
      607 Manchester Rd, Mansfield, OH 44903
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    702 Bowman St
    Mansfield, OH 44903-4100
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!