Three-Story Mixed-Use
For Sale
$2,200,000
237 Washington Row, Sandusky, OH 44870
The layout combines street-level retail or office space, an upper-floor office suite, and a ballroom with two performance floors.
Property Size27,900 SF
Price / SF$78.85
Days on Market10
Property Features for 237 Washington Row
General Information
Standard status
Active
Size
27,900 SF
Additional Details
Mixed-Use Components
retail, office, event space
Property Use
Retail, Office, Event Venue
Amenities
grand ballroom
dance/performance floors
mezzanine
Yes
ON
Public Records
Public
0.00
0.2280
9649122.81
No
Brick Veneer,Other
Building Details
Buildings
1
Stories
3
Listing Agency:
(419) 422-4082
Listed By:
Sue Marshall
Source:
Koehlerrealty
Added: Oct 21
Changed: Oct 29
Last Checked: Oct 28 at 12:42PM
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 Sue Marshall
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Investment Insights
Based on property information with market context.
This three-story mixed-use property offers a ground-floor retail or office area, a second-floor office configuration, and a third-floor ballroom. The ballroom includes two dance or performance floors and a mezzanine. The building contains 27,900 square feet and has brick veneer among its exterior materials.
Located at 237 Washington Row in Sandusky, Ohio, the property is near the local courthouse. Its floor-by-floor configuration accommodates retail or office space below, offices on the second level, and event space above.
Located at 237 Washington Row in Sandusky, Ohio, the property is near the local courthouse. Its floor-by-floor configuration accommodates retail or office space below, offices on the second level, and event space above.
Key Highlights
- 27,900 square feet across three floors
- Ground floor configured for retail or office use
- Second‑floor office layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,396
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,867,920
$1.9M
Cap Rate 7%
$1,334,229
$1.3M
Cap Rate 9%
$1,037,733
$1.0M
Market Conditions
NOI Build-Up for 27,900 SF
Gross rent
$163.5K $5.86/SF
− Vacancy
−$14.1K −$0.50/SF
EGI
$149.4K $5.36/SF
− OpEx
−$56.0K −$2.01/SF
NOI
$93.4K $3.35/SF
Area
Erie County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,867,920
Cap Rate 7%
$1,334,229
Cap Rate 9%
$1,037,733
Alternative Uses
Best Use
Retail
$7.22M
$6.31M – $8.42M
NOI $505,163 @ 7.0% cap · market cap 22.96%
Second Best
Mixed Use
$1.33M
$1.17M – $1.56M
NOI $93,396 @ 7.0% cap · market cap 4.25%
Theoretical Best
Multifamily LT 5
$307.04M
$268.66M – $358.21M
NOI $21,492,560 @ 7.0% cap · market cap 976.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,069
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The layout combines street-level retail or office space, an upper-floor office suite, and a ballroom with two performance floors.
Where is this mixed-use property located?
The property is located at 237 Washington Row Sandusky, OH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 27,900 square feet across three floors; Ground floor configured for retail or office use; Second‑floor office layout
