Downtown Delaware Mixed-Use Redevelopment
18 N Sandusky St, Delaware, OH 43015
Unique multi-level building in downtown Delaware with redevelopment potential.
Type:Retail
Property size:
17,000 SFPrice / SF:
$70/SF- Added:
- Nov 21, 2025
- Days on Market:
- 181
- Last Refresh:
- Apr 5 at 8:09 pm
Property Features for 18 N Sandusky St
General Information
- Standard status
- Active
- Size
- 17,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1876
Listing agent Brett Post License #OH #2014000355 (513) 745-9333
Listing office 3CRE Advisors, LLC - corporate (513) 745-9333
Listing date Nov 21, 2025
Source 3cre
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 3CRE Advisors, LLC - corporate
HighLights
- Prime Downtown Delaware Location: Situated on Sandusky Street, the primary block in downtown, offering central access and high visibility.
- Significant Redevelopment Potential: A unique opportunity to create a statement property in the downtown Delaware market with mixed‑use or redevelopment options.
- Substantial Square Footage: Over 10,000 SF on the first floor, plus two additional floors of 3,300 SF each.
- Public Parking Access: Rear access to a public parking lot enhances convenience for customers and tenants.
- Unique Architectural Features: Vaulted ceilings on the 3rd floor provide a distinctive aesthetic and redevelopment opportunity.
- Walking Distance to Ohio Wesleyan College: Proximity to the college provides a potential customer base.
Overview
This mixed-use building is located on Sandusky Street in downtown Delaware. The building, originally constructed in 1850 and remodeled in 1968, presents a redevelopment opportunity. Historically, the first floor has been used for retail, while the second and third floors have accommodated mixed uses, including retail and a dance hall. The property offers central access on Sandusky Street and rear access to public parking. The first floor provides over 10,000 square feet of space, with the two floors above each offering 3,300 square feet. The third floor features vaulted ceilings. The building is currently unoccupied. Its location offers walkability and ease of access, with a public parking lot situated behind the building providing retail access. The property is within walking distance of Ohio Wesleyan College.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$734.3K
NOI $66,090 @ 9.00% cap · cautious / downside scenario
Moderate
$944.1K
NOI $66,090 @ 7.00% cap · market / base-case scenario
Aggressive
$1.32M
NOI $66,090 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.9k | $5.76 |
| − Vacancy | −$3.5k | −$0.21 |
| EGI | $94.4k | $5.55 |
| − OpEx | −$28.3k | −$1.67 |
| NOI | $66.1k | $3.89 |
17,000 SF · lease $5.76/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$944.1K
$826.1K – $1.10M
NOI $66,090 @ 7.0% cap · market cap 5.51%
Second Best
Mixed Use
$813.0K
$711.4K – $948.5K
NOI $56,908 @ 7.0% cap · market cap 4.74%
Theoretical Best
Warehouse
$3.43M
$3.00M – $4.00M
NOI $239,847 @ 7.0% cap · market cap 19.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Loan Till Payday ...
Loan Service
Opa Grill & Tavern
Restaurant
Location Insight
- Map
- Local Demand
- City
- Delaware
- County
- Delaware
- State
- Ohio
- Longitude
- -83.0675
- Latitude
- 40.2994
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Unique multi-level building in downtown Delaware with redevelopment potential.
Where is this retail space located?
The property is located at 18 N Sandusky St Delaware, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime Downtown Delaware Location: Situated on Sandusky Street, the primary block in downtown, offering central access and high visibility.; Significant Redevelopment Potential: A unique opportunity to create a statement property in the downtown Delaware market with mixed‑use or redevelopment options.; Substantial Square Footage: Over 10,000 SF on the first floor, plus two additional floors of 3,300 SF each.
