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Little Caesars | Corporate STNL 1245 Park Ave W 1,566 SF Retail Building Mansfield, OH 44906 $628,000 ($401.02/SF) 5% Cap Rate
Investment Highlights
- Little Caesars – Single-Tenant, Fee-Simple Net Lease Asset – 100% leased on an NN+ lease structure to a corporate quick-service restaurant chain
- Rare Corporate Lease – Parent Company: Ilitch Holdings, Inc., a privately held Detroit based company with 5,500 Restaurant, owns the Red Wings & Tiger
- Grocery-Anchored Retail Synergy – Directly adjacent to a Kroger-anchored destination grocery center, driving recurring daily traffic
- Exceptional Tenant Longevity – Lease commenced in 1986, demonstrating nearly four decades of continuous operation at the site and long-term commitment
- Built-In Rent Growth – Approximately 2.6 years of firm term remaining with one 5-year renewal option at a 10% rent increase
- Strong National Co-Tenancy – Surrounded by established brands including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase
Executive Summary
Exclusively Listed in Association with Brian Brockman | License No. BRK.2009000214
We are pleased to present an opportunity to acquire a single-tenant, fee-simple Little Caesars in Mansfield, Ohio, 100% leased on a net-lease basis to a corporate chain with a national footprint. The lease commenced in 1986 and features approximately 2.6 years of firm term remaining, with one 5-year renewal option at a 10% rent increase, showcasing tenant longevity providing built-in income growth and inflation protection.
The property is strategically located along Park Avenue West (State Route 430), one of Mansfield’s primary east–west commercial corridors, offering strong visibility and consistent traffic flow. The property is directly adjacent to a Kroger-anchored destination grocery center and benefits from strong national co-tenancy, including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase Bank - underscoring the corridor’s proven retail demand and long-term viability.
Mansfield is a centrally positioned, mid-sized Ohio city with direct access to U.S. Route 30 and Interstate 71, providing convenient connectivity to Columbus, Cleveland, and other major regional markets. As part of an established commercial corridor surrounded by residential neighborhoods and daily services, the site benefits from durable local traffic patterns rather than reliance on destination retail. This investment combines a recognizable national brand, passive net-lease structure, and strong roadway fundamentals, making it a compelling net lease opportunity in a strong Midwestern market supported by a diverse local employment base.
We are pleased to present an opportunity to acquire a single-tenant, fee-simple Little Caesars in Mansfield, Ohio, 100% leased on a net-lease basis to a corporate chain with a national footprint. The lease commenced in 1986 and features approximately 2.6 years of firm term remaining, with one 5-year renewal option at a 10% rent increase, showcasing tenant longevity providing built-in income growth and inflation protection.
The property is strategically located along Park Avenue West (State Route 430), one of Mansfield’s primary east–west commercial corridors, offering strong visibility and consistent traffic flow. The property is directly adjacent to a Kroger-anchored destination grocery center and benefits from strong national co-tenancy, including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase Bank - underscoring the corridor’s proven retail demand and long-term viability.
Mansfield is a centrally positioned, mid-sized Ohio city with direct access to U.S. Route 30 and Interstate 71, providing convenient connectivity to Columbus, Cleveland, and other major regional markets. As part of an established commercial corridor surrounded by residential neighborhoods and daily services, the site benefits from durable local traffic patterns rather than reliance on destination retail. This investment combines a recognizable national brand, passive net-lease structure, and strong roadway fundamentals, making it a compelling net lease opportunity in a strong Midwestern market supported by a diverse local employment base.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
1,566 SF
Building Class
B
Year Built/Renovated
2003/2018
Price
$628,000
Price Per SF
$401.02
Cap Rate
5%
NOI
$31,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.77 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 1,540 SF
- $20.42
- Triple Net
- Aug 2028
Little Caesars began in 1959 when Mike and Marian Ilitch opened the first store in Garden City, Michigan. Originally called Pizza Treat, the company rebranded to Little Caesars Pizza Treat in 1962 before becoming simply Little Caesars. The business pioneered the Hot-N-Ready pizza model, which allows customers to pick up pizzas without waiting. Over decades, the company expanded its menu to include various pizza styles, chicken wings, and Crazy Bread. Little Caesars grew into a global franchise system with thousands of locations across multiple countries while maintaining its focus on value-priced meals.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 1,540 SF | $20.42 | Triple Net | Aug 2028 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
1 of 7
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Little Caesars | Corporate STNL | 1245 Park Ave W
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