1023 N Lexington Springmill Rd | Mansfield, OH 44906
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1023 N Lexington Springmill Rd
Mansfield, OH 44906
Applebee’s · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities
- 7.5% Increases Every 5 Years With the Next Rent Increase Being in Less Than 2 Years
- Long-Term Operating History; Tenant Has Been at This Site Since 1994
- 2 Years Remaining on a Value-Add Opportunity Through the Lease Extension
- Apple American Group is the Largest Applebee’s Franchisee in the Nation
- Easily Adaptable Building Which Allows For Several Alternative Uses
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
5,431 SF
Building Class
B
Year Built
1994
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.61 AC
Zoning
R-3
Parking
90 Spaces (16.57 Spaces per 1,000 SF Leased)
Frontage
271’ on North Lexington-Springmil
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 038-60-318-67-003 | Improvements Assessment | $181,940 |
| Land Assessment | $245,060 | Total Assessment | $427,000 |
PROPERTY TAXES
Parcel Number
038-60-318-67-003
Land Assessment
$245,060
Improvements Assessment
$181,940
Total Assessment
$427,000
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