Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    31 N Sandusky St Delaware, OH 43015

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $395,000

    Retail property with long-term tenant in high-traffic downtown location.

    Property size:
    1,334 SF

    Property Features for 31 N Sandusky St

    General Information

    Size
    1,334 SF

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Brett Post
    Source: 3cre

    Listing Agent: Brett Post

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

    Learn more

    Property Insight Report

    Overview

    Retail Property in Downtown Delaware

    This 1,334 square foot retail property is located in downtown Delaware, Ohio, within walking distance of Ohio Wesleyan College. The property is zoned commercial and features a long-term lease with Whit’s Frozen Custard, providing a stable tenant. Situated on North Sandusky Street, the location benefits from high traffic, with 11,943 cars per day, and is surrounded by local shops and restaurants. The property offers excellent walkability and ease of access, with parking available in both the front and back. The average household income within a 3-mile radius is $99,598.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Whit's Frozen Custard ... Ice Cream Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Delaware
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0679463
    Latitude
    40.2997903

    Nearby Similar for Sale

    • $350,000

      Established Hair Salon Franchise Opportunity

      Turn-key hair salon franchise in high-traffic Columbus area.
      Delaware, OH 43015
      View Details
    • $499,950
      10,000 SF

      Historic Building in Downtown Delaware

      10,000 SF historic building suitable for office or residential use.
      45 Lake St, Delaware, OH 43015
      View Details
    • $699,000
      3,722 SF

      Renovated Office Building on Sandusky

      Stand-alone office building in booming Delaware city community.
      611 S Sandusky St, Delaware, OH 43015
      View Details
    • $749,900
      10,474 SF

      Versatile Building on Nine Acres

      Warehouse and office space with development potential on nine acres.
      3527 State Route 37 W, Delaware, OH 43015
      View Details
    • $239,900
      1,315 SF

      Charming Cape Cod with Pond View

      Cape Cod with first-floor suite, pond view, near downtown.
      273 Saratoga St, Delaware, OH 43015
      View Details
    • $395,000
      1,334 SF

      Retail Property in Downtown Delaware

      Retail property with long-term tenant near Ohio Wesleyan College.
      29-31 N Sandusky St, Delaware, OH 43015
      View Details
    • $2,000,000
      9,403 SF

      Downtown Delaware Retail Property

      Retail property with redevelopment opportunity in downtown Delaware, OH.
      57 N Sandusky St, Delaware, OH 43015
      View Details
    • $4,600,000
      2,261 SF

      Delaware Office Space For Sale

      Office spaces available near Ohio Health Grady Memorial Hospital.
      454-460 W Central Ave, Delaware, OH 43015
      View Details
    • $475,000
      3,264 SF

      Historic Office Building in Delaware

      Two-story office building built in 1821 with ample parking.
      15 N Franklin St, Delaware, OH 43015
      View Details
    • Contact for pricing
      255,947 SF

      New Industrial Spec Building

      255,947 SF industrial building with 32' clear height.
      2039 Pittsburgh Dr, Delaware, OH 43015
      View Details
    • $750,000
      2,650 SF

      Downtown Delaware Retail Property

      Retail property in downtown Delaware near Ohio Wesleyan College.
      27 N Sandusky St, Delaware, OH 43015
      View Details
    • $404,900
      1,578 SF

      Meticulously Kept Home with Amenities

      Pristine home featuring spacious bedrooms, luxurious bathrooms, and custom features.
      6977 Falls View Cir, Delaware, OH 43015
      View Details

    FAQs

    What type of property is this?
    Storefront property - Retail property with long-term tenant in high-traffic downtown location.
    Where is this storefront property located?
    The property is located at 31 N Sandusky St Delaware, OH.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Long-term lease with established tenant (Whit’s Frozen Custard) provides immediate income.; - High-traffic location on North Sandusky Street (11,943 cars per day) ensures excellent visibility.; - Located in downtown Delaware, OH, a desirable and accessible area.
    (740) 972-8499
    Request Owner's contact information
    31 N Sandusky St Delaware, OH 43015
    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.
    31 N Sandusky St
    Delaware, OH 43015
    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
    31 N Sandusky St Delaware, OH 43015
    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!
    Listing Contact
    Brett Post
    Real Estate License ID: #2014000355
    (740) 972-8499
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.