Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3700 Milan Rd Sandusky, OH 44870

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    High-traffic location, 1-acre lot.

    Property Features for 3700 Milan Rd

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease

    Spaces For Lease

    at 3700 Milan Rd, Sandusky, OH 44870 Contact us

    We can help!

    Listing Contact
    David Stein
    David Stein

    Listing Agency: Passov Real Estate Group Listing Agent: David Stein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 1-acre retail outparcel, located at 3700 Milan Road in Sandusky, Ohio, presents a prime opportunity for businesses seeking high visibility and accessibility. Situated in Erie County, this property offers a single available space perfect for a variety of retail uses. The expansive 1-acre lot provides ample space for development and potential expansion. The address, 3700 Milan Road, places the property in a high-traffic area, ensuring significant exposure to potential customers. The property is classified as a retail outparcel/pad, ideal for businesses requiring convenient access and prominent street frontage. With a total building square footage of zero, this property offers a blank canvas for a new construction project tailored to specific business needs. The multiple tenancy designation suggests flexibility in lease terms and potential for future expansion or shared occupancy. This location in Sandusky, Ohio, zip code 44870, offers excellent access to local amenities and a strong customer base. The property's coordinates are 41.4231366 latitude and -82.6782994 longitude. This is an exceptional opportunity to establish a thriving retail presence in a desirable location. The property is currently available for lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Discount Drug Mart ... Food Market Western Union Bank Discount Drug Mart Grocery & Convenience Store Jacob Justus Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.6782994
    Latitude
    41.4231366

    Nearby Similar for Lease

    • $1,200,000

      Sandusky Office Space For Rent

      Office space with utilities included and no CAM charges.
      2215 Cleveland Rd, Sandusky, OH 44870
      View Details
    • $1,600,000

      Sandusky Office Space For Rent

      Office space for rent in high visibility Sandusky area.
      2215 Cleveland Rd, Sandusky, OH 44870
      View Details
    • $1,500 /Mo
      1,152 SF

      Renovated Office Space with Utilities

      Second floor office space with elevator access and included utilities.
      1604 E Perkins Ave, Sandusky, OH 44870
      View Details
    • $7 SF/Yr
      1,633 SF

      Retail Space in Sandusky, OH

      Retail space available in well-maintained shopping center.
      709 W Perkins Ave, Sandusky, OH 44870
      View Details
    • $1,825 /Mo
      3,500 SF

      Sandusky Warehouse Space For Rent

      3,500 sq ft warehouse space available for immediate occupancy.
      3513 North Bay Drive, Sandusky, OH
      View Details
    • Contact for pricing
      16,000 SF

      Sandusky Retail Space For Lease

      Retail space available in Sandusky's regional retail corridor.
      712-784 Crossings Rd, Sandusky, OH 44870
      View Details
    • Contact for pricing
      8,300 SF

      Retail Space in Sandusky, OH

      Retail space available in high-traffic Sandusky shopping center.
      5500 Milan Rd, Sandusky, OH 44870
      View Details
    • Contact for pricing
      2,238 SF

      Retail Space in High-Traffic Center

      Inline retail space in Sandusky, OH, near major retailers.
      901-921 Crossings Rd, Sandusky, OH 44870
      View Details
    • Contact for pricing
      1,750 SF

      Downtown Sandusky Retail Space Available

      Retail space in downtown Sandusky, next to Firelands Credit Union.
      234 Columbus Ave, Sandusky, OH 44870
      View Details
    • $10 SF/Yr
      3,500 SF

      Hayes Ave Medical Office Space

      Sandusky, OH: Prime Medical Office Opportunity
      1304 Hayes Ave, Sandusky, OH 44870
      View Details
    • Contact for pricing
      4,228 SF

      Sandusky Retail Space For Lease

      Prime Retail Location, 4,228 sq ft
      3321 Milan Rd, Sandusky, OH 44870
      View Details
    • $6 SF/Yr
      11,970 SF

      Sandusky Warehouse Space For Lease

      Modern Flex Warehouse, 11,970 SF
      3513 Bay Dr, Sandusky, OH 44870
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-traffic location, 1-acre lot.
    Where is this individual retail property located?
    The property is located at 3700 Milan Rd Sandusky, OH.
    What are key features of this property?
    This property features: One-acre retail outparcel available for sale or lease.; 33,000 vehicles per day (VPD) on Milan Road.; New Discount Drug Mart now open.
    (216) 831-8100 Call to check price and availability
    Request Owner's contact information
    3700 Milan Rd Sandusky, OH 44870
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3700 Milan Rd
    Sandusky, OH 44870
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3700 Milan Rd Sandusky, OH 44870
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Stein
    David Stein
    Real Estate License ID: SAL0000295155
    (216) 831-8100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!