Industrial Property with Multiple Bay
For Sale
$990,000
2110 George Street Sandusky, Sandusky, OH 44870
Industrial building includes multiple bay doors, open workspace, and newly renovated office space for administrative use.
Property Size20,808 SF
Price / SF$47.58
Days on Market47
Property Features for 2110 George Street Sandusky
General Information
Standard status
Active
Size
20,808 SF
Total Parking Spaces
30
Amenities
Yes
ON
Public Records
Public
30.00
2.8024
353268.63
No
Brick,Vinyl Siding
Building Details
Year Built
1967
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Sinath Johnson
(614) 660-5959
Source:
Movenowohio
Added: Jul 6
Changed: Aug 15
Last Checked: Aug 21 at 4:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sinath Johnson
Investment Insights
Based on property information with market context.
This industrial property is designed for practical operations, featuring multiple bay doors, open workspace, and newly renovated office space. The office area provides a clean, modern environment for administrative or client-facing needs, while the flexible warehouse layout supports a range of day-to-day workflows.
The property is situated on a large lot with ample parking and easy access, supporting straightforward customer and staff arrivals. Located at 2110 George Street in Sandusky, OH, it offers a functional combination of shop/warehouse space and office improvements in a single facility.
With its operational layout, office renovations, and parking-oriented site plan, the building may appeal to owner-users seeking a ready-to-work industrial setup or investors looking to add a usable industrial asset to a portfolio.
The property is situated on a large lot with ample parking and easy access, supporting straightforward customer and staff arrivals. Located at 2110 George Street in Sandusky, OH, it offers a functional combination of shop/warehouse space and office improvements in a single facility.
With its operational layout, office renovations, and parking-oriented site plan, the building may appeal to owner-users seeking a ready-to-work industrial setup or investors looking to add a usable industrial asset to a portfolio.
Key Highlights
- Industrial building on a 2.8024‑acre lot built in 1967 with brick and vinyl siding exterior
- Multiple bay doors for loading and flexible industrial operations
- Open workspace layout for warehouse, automotive, service‑based, or light industrial use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,504
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,710,080
$1.7M
Cap Rate 7%
$1,221,486
$1.2M
Cap Rate 9%
$950,044
$950.0K
Market Conditions
NOI Build-Up for 20,808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$133.4K $6.41/SF
− Vacancy
−$11.2K −$0.54/SF
EGI
$122.1K $5.87/SF
− OpEx
−$36.6K −$1.76/SF
NOI
$85.5K $4.11/SF
Area
Erie County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,710,080
Cap Rate 7%
$1,221,486
Cap Rate 9%
$950,044
Alternative Uses
Best Use
Flex RnD
$2.32M
$2.03M – $2.71M
NOI $162,666 @ 7.0% cap · market cap 16.43%
Second Best
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,826 @ 7.0% cap · market cap 10.49%
Theoretical Best
Multifamily LT 5
$228.99M
$200.37M – $267.15M
NOI $16,029,290 @ 7.0% cap · market cap 1,619.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44870, OH
40,416
Population
19,991
Households
2
Avg Household Size
43
Median Age
25%
College-Educated
90%
High-School Grad
60.7 sq mi
ZIP Area
666
Density / Sq Mi
$58,797
Median Household Income
$36,056
Median Earnings
$863
Median Rent
$148,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial building includes multiple bay doors, open workspace, and newly renovated office space for administrative use.
Where is this flex space located?
The property is located at 2110 George Street Sandusky Sandusky, OH.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Industrial building on a 2.8024‑acre lot built in 1967 with brick and vinyl siding exterior; Multiple bay doors for loading and flexible industrial operations; Open workspace layout for warehouse, automotive, service‑based, or light industrial use
