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    Property profile & analytics

    1031 Pierce St Sandusky, OH 44870

    • Medical offices
    • 14,976 SF
    • 2.05 lot acres
    For Sale
    View listing
    $275
    Last Sale
    Jan 05, 2021
    $615,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6240568
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Empower Behavioral Health & Intervention / Mental Health Service
    • Hitchman Bail Bonds / Bail Bonds Service
    • Apothic Hair and Beauty Bar / Beauty Salon
    • Tonya Runner / Nurse Practitioner
    • Anthony's Villa / Mental Health Service / Non-Profit Organization

    Property Details for 1031 Pierce St

    Year built
    1970
    Lot size
    2.05 lot acres
    Property size
    14,976 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    58-02915-000
    APU
    5802915000

    Description

    This single-story, 15,406 square foot office building at 1031 Pierce Street in Sandusky, Ohio, offers a variety of flexible office spaces to suit diverse business needs. Built in 1970, the property sits on a generous 89,124 square foot lot and provides 100 parking spaces for tenants and their clients. The building is configured for multiple tenants, with spaces available from a minimum of 90 square feet. Utilities are included in the rent, offering a convenient and cost-effective solution for businesses. Lease terms are flexible, catering to various occupancy requirements. While some units boast private restrooms, others share common restrooms within the building. The property's location in Sandusky, Ohio, zip code 44870, provides easy access to local amenities and transportation. Please note that interior photos are examples only

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $855,000
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $612,000
      Market price range: $613k - $1.54M
      AI Estimate
      $596,000
      Market price range: $597k - $1.48M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.7165
    Latitude
    41.4385
    CBSA code
    41780
    CBSA name
    SANDUSKY, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,568
    $13,457
    $200,560
    $214,017
    -
    $38,450
    $573,030
    $611,480

    Comparable in this City

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      View Details
    • Value Estimation
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      1,948 SF

      Tyler

      MEDICAL BUILDING • 1,948 SF
      Tyler, Sandusky, OH 44870
      View Details
    • Value Estimation
      $355,000
      3,128 SF

      703 Tyler St

      MEDICAL BUILDING • 3,128 SF
      703 Tyler St, Sandusky, OH 44870-3367
      View Details
    • Value Estimation
      $390,000
      6,606 SF

      Tyler

      MEDICAL BUILDING • 6,606 SF
      Tyler, Sandusky, OH 44870
      View Details
    • Value Estimation
      $115,000
      1,914 SF

      2537 Columbus Ave

      MEDICAL BUILDING • 1,914 SF
      2537 Columbus Ave, Sandusky, OH 44870-5548
      View Details
    • Value Estimation
      $295,000
      2,827 SF

      2525 Columbus Ave

      MEDICAL BUILDING • 2,827 SF
      2525 Columbus Ave, Sandusky, OH 44870-5500
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      171 SF

      Sandusky Office Space: Great Value!

      Affordable Office, Prime Location, Utilities Included
      1031 Pierce St, Sandusky, OH 44870
      View Details
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    Similar Nearby for Lease

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    • Contact for pricing
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      Prime Erie County land, 2,000 sq ft retail/office space.
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    • $1,500 /Mo
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      Renovated Office Space with Utilities

      Second floor office space with elevator access and included utilities.
      1604 E Perkins Ave, Sandusky, OH 44870
      View Details
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    Sandusky, OH 44870
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    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
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