Shop and Live-Work
For Sale
$385,000
Pending
3918 Venice Road Sandusky, Sandusky, OH 44870
Includes a 1,400 sq ft shop with multiple overhead doors and a main house plus four rental units on nearly 3 acres.
Property Size1,512 SF
Lot Size3.00 Acres
Days on Market48
Property Features for 3918 Venice Road Sandusky
General Information
Standard status
Pending
Size
1,512 SF
Total Parking Spaces
7
Lot size
3.00 Acres
Zoning
Commercial
Additional Details
Drive-In Doors
1
Multifamily Units
4
Amenities
ON
Public Records
Public
7.00
2.9300
131399.32
No
Steel,Vinyl Siding
Building Details
Year Built
2000
Listing Agency:
(330) 472-2967
Listed By:
Christina Moretti
(330) 472-2967
Source:
Christinamoretti.exprealty
Added: Jul 10
Changed: Aug 7
Last Checked: Aug 5 at 4:18AM
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 Christina Moretti
Investment Insights
Based on property information with market context.
This live-work property includes a 1,400 sq ft shop along with a main house and four front one-room rental units. The main house was planted in 2000 and is described as having a brand-new roof and skylights installed in 2026, along with new carpet throughout. The four rental units are described as formerly hotel rooms and are reported to need renovation before use.
The shop features three overhead doors and measures 54' x 26', with an additional bay that has a taller door suited for a boat or RV. For additional storage, the property also includes two more outbuildings. All components are situated on nearly 3 acres and are offered for sale together as a single commercial property.
The shop features three overhead doors and measures 54' x 26', with an additional bay that has a taller door suited for a boat or RV. For additional storage, the property also includes two more outbuildings. All components are situated on nearly 3 acres and are offered for sale together as a single commercial property.
Key Highlights
- Includes a 1,400 sq ft shop/pole barn with 3 overhead doors plus an additional taller door
- Pole barn dimensions are 54' x 26', with extra outbuildings for storage
- Main house was built in 2000
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
$18,756
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
4.87%
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%
$375,120
$375.1K
Cap Rate 7%
$267,943
$267.9K
Cap Rate 9%
$208,400
$208.4K
Market Conditions
NOI Build-Up for 1,512 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
$32.5K $21.48/SF
− Vacancy
−$7.5K −$4.94/SF
EGI
$25.0K $16.54/SF
− OpEx
−$6.3K −$4.13/SF
NOI
$18.8K $12.40/SF
Area
Erie County, OH
Vacancy
23.00%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$375,120
Cap Rate 7%
$267,943
Cap Rate 9%
$208,400
Alternative Uses
Best Use
Multifamily LT 5
$16.64M
$14.56M – $19.41M
NOI $1,164,758 @ 7.0% cap · market cap 302.53%
Second Best
Apartment 5plus
$14.50M
$12.69M – $16.91M
NOI $1,014,813 @ 7.0% cap · market cap 263.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
4
Residential units
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Includes a 1,400 sq ft shop with multiple overhead doors and a main house plus four rental units on nearly 3 acres.
Where is this live-work space located?
The property is located at 3918 Venice Road Sandusky Sandusky, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Includes a 1,400 sq ft shop/pole barn with 3 overhead doors plus an additional taller door; Pole barn dimensions are 54' x 26', with extra outbuildings for storage; Main house was built in 2000
