15 Main StLexington, OH 44904

Property Details for 15 Main St

Year built

1976

Lot size

0.39 AC

Property size (Sq ft)

11,298 SF

Property type

Land

Property subtype

Commercial land

APN

048-27-156-03-000

APU

482715603000

Description

This exceptional mixed-use property in Mansfield, Ohio, presents a lucrative investment opportunity. Located on a high-traffic corner, just three miles from I-71, this established business boasts 16,496 square feet across two stories. The ground floor features a thriving 5,850-square-foot retail store, a 1,800-square-foot workshop, and a 2,240-square-foot space leased to a national pizza chain. The second floor offers 4,890 square feet, including a leased two-bedroom, two-bathroom apartment (1,716 sq ft) and nine additional office spaces, perfect for creative office setups. The property sits on a 10,824-square-foot lot and benefits from an average daily traffic count of nearly 52,000 vehicles. The asking price is $699,900, with a 9.00% cap rate. The current lease for the retail space commenced October 1, 2020, and expires November 1, 2030, under a NNN lease. The property is zoned for mixed residential and commercial use, offering flexibility for future development. This turnkey operation includes the real estate, inventory, and business value (business sold separately). The seller is offering a 90-day transition period to ensure a smooth transfer. This is a rare opportunity to acquire a well-established, high-income-generating property in a prime location. All showings are by appointment only.

• Alternative Use

  Use

  Valuation

  Residential

  $2,441,482

  Hospitality

  $2,236,384

  Educational

  $1,860,646

  Medical

  $1,924,636

  Retail

  $2,894,338

Location Insight

City

Lexington

County

Richland

State

Ohio

Latitude

40.6793

Longitude

-82.5816

CBSA code

31900

CBSA name

MANSFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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