240 Cook RdMansfield, OH 44907

Property Details for 240 Cook Rd

Year built

1974

Lot size

3.67 AC

Property size (Sq ft)

14,880 SF

Property type

Office buildings

APN

028-90-118-05-000

APU

289011805000

Description

This exceptional 13,021-square-foot medical office building in Mansfield, Ohio, presents a compelling investment opportunity. The two-story, fully ADA-compliant building, constructed in 1974, sits on a spacious 3.67-acre lot and boasts 56 parking spaces. Currently 100% occupied by two tenants (one a surgery center, the other a medical office) on a month-to-month lease, generating a substantial net operating income (NOI) of $233,684. The building features a first-floor medical office space of 7,478 square feet and a lower-level surgery center encompassing 5,543 square feet, including two operating rooms and a dedicated patient drop-off area. The property is zoned C and benefits from high visibility on Cook Road, with convenient access to SR 42 and I-71. Its prime location places it near amenities such as restaurants, banks, other medical facilities, The Woods at Possum Run Golf Course, Mansfield Christian Academy, OhioHealth, and Mansfield Hospital, all within the Mansfield MSA. The well-maintained building is significantly below replacement cost, making it an attractive acquisition for owner-occupants or investors seeking a strong return. The property includes one building with a total of two stories. The APN is 028-90-118-05-000. Asking price is $1,953,150.

• CAP approach

  CAP return

  Valuation

  6%

  $3,183,890

  6.5%

  $2,938,970

  7%

  $2,729,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,391,880

  Geo Method

  $1,391,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,919,450

  Retail / Commercial

  $3,009,370

  Mixed-Use / Specialty

  $2,978,080

  Hospitality / Lodging

  $2,158,150

  Institutional / Educational

  $3,088,660

  Residential Income

  $3,613,730

  Multifamily

  $4,448,100

  Automotive / Energy

  $2,647,420

  Parking / Income-Based Land

  $933,907

  Restaurant / Food Service

  $1,505,040

  Healthcare / Senior Housing

  $3,075,050

Location Insight

City

Mansfield

County

Richland

State

Ohio

Latitude

40.7341

Longitude

-82.5253

CBSA code

31900

CBSA name

MANSFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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