Mixed-Use Property with
For Sale
$124,900
331 Tiffin Ave, Sandusky, OH 44870
Commercial space is paired with a rented two-bedroom residence featuring in-unit laundry and hardwood flooring.
Property Size1,290 SF
Price / SF$96.82
Days on Market36
Property Features for 331 Tiffin Ave
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,802
Listing Agency:
Berkshire Hathaway HomeServices Pro. - Sandusky
(419) 239-3472
Listed By:
Jeffrey S. Smith
(419) 239-3472
Source:
Exprealty
Added: Jul 7
Changed: Aug 10
Last Checked: Aug 11 at 12:23PM
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 Berkshire Hathaway HomeServices Pro. - Sandusky
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial area with an attached residential component. The commercial portion is currently used by the owner for workshop and storage functions, providing a defined space alongside the residence.
The attached apartment spans two stories and includes two bedrooms, one and a half bathrooms, hardwood floors, and in-unit laundry. The residential unit is currently rented, adding an established occupancy component to the property.
The attached apartment spans two stories and includes two bedrooms, one and a half bathrooms, hardwood floors, and in-unit laundry. The residential unit is currently rented, adding an established occupancy component to the property.
Key Highlights
- Attached two‑story apartment with 2 bedrooms and 1.5 bathrooms
- Residential unit includes hardwood floors and in‑unit laundry
- Apartment is currently rented
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
$4,318
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
3.46%
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%
$86,360
$86.4K
Cap Rate 7%
$61,686
$61.7K
Cap Rate 9%
$47,978
$48.0K
Market Conditions
NOI Build-Up for 1,290 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
$7.6K $5.86/SF
− Vacancy
−$650 −$0.50/SF
EGI
$6.9K $5.36/SF
− OpEx
−$2.6K −$2.01/SF
NOI
$4.3K $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 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%
$86,360
Cap Rate 7%
$61,686
Cap Rate 9%
$47,978
Alternative Uses
Best Use
Apartment 5plus
$12.37M
$10.82M – $14.43M
NOI $865,812 @ 7.0% cap · market cap 693.20%
Second Best
Mixed Use
$61.7K
$54.0K – $72.0K
NOI $4,318 @ 7.0% cap · market cap 3.46%
Theoretical Best
Multifamily LT 5
$14.20M
$12.42M – $16.56M
NOI $993,742 @ 7.0% cap · market cap 795.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
174
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with a rented two-bedroom residence featuring in-unit laundry and hardwood flooring.
Where is this mixed-use property located?
The property is located at 331 Tiffin Ave Sandusky, OH.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Attached two‑story apartment with 2 bedrooms and 1.5 bathrooms; Residential unit includes hardwood floors and in‑unit laundry; Apartment is currently rented
