Light Manufacturing Flex
For Sale
$429,900
3120 Venice Road Sandusky, Sandusky, OH 44870
Flex and light manufacturing facility with three 10x10 overhead doors, three-phase power, and office/locker support space.
Property Size9,600 SF
Lot Size1.66 Acres
Price / SF$44.78
Days on Market46
Property Features for 3120 Venice Road Sandusky
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
25
Lot size
1.66 Acres
Zoning
Commercial,Industrial
Warehouse & Industrial
Drive-In Doors
3
Heavy Power
Yes
Additional Details
Highway Access
Yes
Amenities
Yes
ON
Public Records
No
Public
City of Sandusky
25.00
1.6651
258182.69
Block,Vinyl Siding
Building Details
Year Built
1965
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Penny Ray
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 21 at 4:03AM
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 Penny Ray
Investment Insights
Based on property information with market context.
This former Schwab Machine building is a 9,600-square-foot flex and light manufacturing facility set on 1.66 acres. The layout supports practical workflow with office and locker room areas designed for reception, clerical, and support functions. Loading and deliveries are supported by three 10’ x 10’ overhead doors.
The property includes three-phase electrical service for equipment with higher power needs and a large on-site parking area suitable for employees, customers, and fleet vehicles. Light Manufacturing (LM) zoning is listed for the site.
Located in Sandusky’s West End with easy access to U.S. Route 6, State Route 2, and State Route 101, the building is positioned for assembly, service operations, storage, distribution, and other light manufacturing activities. The site also includes room for expansion.
The property includes three-phase electrical service for equipment with higher power needs and a large on-site parking area suitable for employees, customers, and fleet vehicles. Light Manufacturing (LM) zoning is listed for the site.
Located in Sandusky’s West End with easy access to U.S. Route 6, State Route 2, and State Route 101, the building is positioned for assembly, service operations, storage, distribution, and other light manufacturing activities. The site also includes room for expansion.
Key Highlights
- 9,600 sq. ft. block and vinyl siding building on 1.66 acres (3120 Venice Road, Sandusky West End)
- Three 10' x 10' overhead doors for loading and deliveries
- Three‑phase electrical service for equipment with higher power needs; electricity is ON
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
$39,448
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
9.18%
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%
$788,960
$789.0K
Cap Rate 7%
$563,543
$563.5K
Cap Rate 9%
$438,311
$438.3K
Market Conditions
NOI Build-Up for 9,600 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
$61.5K $6.41/SF
− Vacancy
−$5.2K −$0.54/SF
EGI
$56.4K $5.87/SF
− OpEx
−$16.9K −$1.76/SF
NOI
$39.4K $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%
$788,960
Cap Rate 7%
$563,543
Cap Rate 9%
$438,311
Alternative Uses
Best Use
Flex RnD
$1.07M
$938.1K – $1.25M
NOI $75,048 @ 7.0% cap · market cap 17.46%
Second Best
Industrial
$563.5K
$493.1K – $657.5K
NOI $39,448 @ 7.0% cap · market cap 9.18%
Theoretical Best
Multifamily LT 5
$105.65M
$92.44M – $123.25M
NOI $7,395,290 @ 7.0% cap · market cap 1,720.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
169
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 - Flex and light manufacturing facility with three 10x10 overhead doors, three-phase power, and office/locker support space.
Where is this flex space located?
The property is located at 3120 Venice Road Sandusky Sandusky, OH.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 9,600 sq. ft. block and vinyl siding building on 1.66 acres (3120 Venice Road, Sandusky West End); Three 10' x 10' overhead doors for loading and deliveries; Three‑phase electrical service for equipment with higher power needs; electricity is ON
