Updated Mixed-Use
New
For Sale
$400,000
426 Huron Ave, Sandusky, OH 44870
Commercial property combining a retail storefront with apartment units under professional management.
Property Size5,014 SF
Price / SF$79.78
Days on Market3
Property Features for 426 Huron Ave
General Information
Standard status
Active
Size
5,014 SF
Additional Details
Gross Income
$38,400
Multifamily Units
3
Building Details
Year Built
1920
Buildings
1
Listing Agency:
HomeSmart Real Estate Momentum LLC
Listed By:
Adam W Burr · License #2017003813
(440) 759-7059
Source:
Theacclaimedrealty
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 2:41PM
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 HomeSmart Real Estate Momentum LLC
Investment Insights
Based on property information with market context.
Located at 426 Huron Ave in Sandusky, Ohio, this mixed-use building combines one retail space with three apartments. The property contains 5,014 square feet and was originally built in 1920, with updates completed in 2023.
One apartment is currently vacant, while the remaining spaces are occupied. Professional property management is already in place, providing an established operating structure for the retail and residential components. The combination of storefront and apartment space creates a varied-use commercial property within a single building.
One apartment is currently vacant, while the remaining spaces are occupied. Professional property management is already in place, providing an established operating structure for the retail and residential components. The combination of storefront and apartment space creates a varied-use commercial property within a single building.
Key Highlights
- Mixed‑use building with 1 retail space and 3 apartments
- 5,014 square feet of building area
- Updated in 2023
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
$16,784
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
4.20%
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%
$335,680
$335.7K
Cap Rate 7%
$239,771
$239.8K
Cap Rate 9%
$186,489
$186.5K
Market Conditions
NOI Build-Up for 5,014 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
$29.4K $5.86/SF
− Vacancy
−$2.5K −$0.50/SF
EGI
$26.9K $5.36/SF
− OpEx
−$10.1K −$2.01/SF
NOI
$16.8K $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%
$335,680
Cap Rate 7%
$239,771
Cap Rate 9%
$186,489
Alternative Uses
Best Use
Apartment 5plus
$48.08M
$42.07M – $56.09M
NOI $3,365,259 @ 7.0% cap · market cap 841.31%
Second Best
Retail
$1.30M
$1.13M – $1.51M
NOI $90,784 @ 7.0% cap · market cap 22.70%
Theoretical Best
Multifamily LT 5
$55.18M
$48.28M – $64.37M
NOI $3,862,498 @ 7.0% cap · market cap 965.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,128
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combining a retail storefront with apartment units under professional management.
Where is this mixed-use property located?
The property is located at 426 Huron Ave Sandusky, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Mixed‑use building with 1 retail space and 3 apartments; 5,014 square feet of building area; Updated in 2023
