1245 Park Ave W - Fast Food FOR SALE


Mansfield, OH 44906
$628,000 USD
714-400-6267
1245 Park Ave W, Mansfield, OH for Sale
$628,000 USD
Fast Food - FOR SALE
1/6
null | 5% Cap Rate

1245 Park Ave W
Mansfield, OH 44906


HIGHLIGHTS

  • Little Caesars – Single-Tenant, Fee-Simple Net Lease Asset – 100% leased on an NN+ lease structure to a corporate quick-service restaurant chain
  • Exceptional Tenant Longevity – Lease commenced in 1986, demonstrating nearly four decades of continuous operation at the site and long-term commitment
  • Rare Corporate Lease – Parent Company: Ilitch Holdings, Inc., a privately held Detroit based company with 5,500 Restaurant, owns the Red Wings & Tiger
  • Built-In Rent Growth – Approximately 2.6 years of firm term remaining with one 5-year renewal option at a 10% rent increase
  • Grocery-Anchored Retail Synergy – Directly adjacent to a Kroger-anchored destination grocery center, driving recurring daily traffic
  • Strong National Co-Tenancy – Surrounded by established brands including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$628,000 USD

PRICE/SF

$401 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Little Caesars | Corporate STNL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

-

APN/PARCEL ID

0270213508000

ASK ABOUT THIS PROPERTY

Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Spencer O'DonnellCharter Realty CompanyMore Info
714-400-6267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.