Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    41 N Sandusky St Delaware, OH 43015

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr

    3000 SF retail/restaurant space in downtown Delaware, Ohio.

    Property size:
    16,856 SF
    Lot size:
    16,856 SF

    Property Features for 41 N Sandusky St

    General Information

    Size
    16,856 SF

    Building Details

    Year built
    1914

    We can help!

    Listing Contact
    Tracie Tormasi
    Source: 3cre

    Listing Agent: Tracie Tormasi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Customizable Retail Space in Delaware

    This property offers 3,000 square feet of customizable retail space. Located in downtown Delaware, Ohio, at 41 North Sandusky Street, the renovated building combines contemporary amenities with classic charm. The flexible space is suitable for various business types, including a dining establishment or cocktail bar. The space is prepared as a blank canvas, and customizable build-out solutions are available. Co-tenants include Cocinamo’s Bakery and The Bare Bowl Pottery. Sandusky Street is in the heart of Delaware, Ohio, near local shops, cafes, and fine dining establishments. The property size is 16,856 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flahive Terrence P Attorney First Commonwealth Bank Insurance Agency ATM Atm 1st Commonwealth bank Bank

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Delaware
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0680328
    Latitude
    40.3000626

    Nearby Similar for Lease

    • $12 SF/Yr
      31,536 SF

      Delaware, OH Commercial Space

      Office and warehouse space available for lease in Delaware, OH.
      1290 Us Highway 42 N, Delaware, OH 43015
      View Details
    • $749,900
      4,400 SF

      Retail Building with Event Spaces

      Freestanding retail building with bar, event spaces, and kitchen.
      1400 Stratford Rd, Delaware, OH 43015
      View Details
    • $1,250 /Mo
      5,280 SF

      Modern Office Space in Delaware

      Flexible office spaces in downtown Delaware with modern amenities.
      35 N Sandusky St, Delaware, OH 43015
      View Details
    • $389 /Mo
      16,000 SF

      Downtown Delaware Office Suites for Lease

      Prime office suites in downtown Delaware, Ohio, ranging from 43-3,000 SF.
      1 West Winter St, Delaware, OH 43015
      View Details
    • $3,500 /Mo
      20,000 SF

      Turn-Key Bar with Liquor License

      2,200 SF turn-key bar with D5/D6 liquor license.
      1 West Winter St, Delaware, OH 43015
      View Details
    • $5 SF/Yr
      6,035 SF

      Delaware Office Space for Lease

      Flexible Workspace Solutions in Ohio
      1 Winter St, Delaware, OH 43015
      View Details
    • $800 /Mo
      13,024 SF

      Downtown Delaware Office Suites For Lease

      Two 500 SF office suites in vibrant downtown Delaware, OH.
      43 N Sandusky St, Delaware, OH 43015
      View Details
    • $29 SF/Yr
      1,222 SF

      Renovated Retail and Office Space

      Retail, office, and restaurant spaces available in Delaware City.
      60 Lake St, Delaware, OH 43015
      View Details
    • $30 SF/Yr
      8,722 SF

      Delaware Retail Center - US 23

      Prime Retail Space, Multiple Units Available
      64 Coughlin Ln, Delaware, OH 43015
      View Details
    • $13 SF/Yr
      10,924 SF

      Downtown Delaware Executive Office Space

      Modern office suite, 2,737 sq ft, prime location.
      92 Sandusky St, Delaware, OH 43015
      View Details
    • Contact for pricing
      16,000 SF

      Updated Office and Warehouse Space

      Updated office and warehouse near Route 42 & US-23.
      73 London Rd, Delaware, OH 43015
      View Details
    • $14 SF/Yr
      8,591 SF

      Delaware Medical Office Space For Lease

      8,591 SF Medical Office Building Available
      454 Central Ave, Delaware, OH 43015
      View Details

    FAQs

    What type of property is this?
    Retail space - 3000 SF retail/restaurant space in downtown Delaware, Ohio.
    Where is this retail space located?
    The property is located at 41 N Sandusky St Delaware, OH.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the heart of Downtown Delaware on Sandusky Street.; - **3,000 SF of customizable retail/restaurant space.**; - Customizable build-out solutions available.
    (740) 417-0946
    Request Owner's contact information
    41 N Sandusky St Delaware, OH 43015
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    41 N Sandusky St
    Delaware, OH 43015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    41 N Sandusky St Delaware, OH 43015
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tracie Tormasi
    Real Estate License ID: #2020005601
    (740) 417-0946
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.