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    Property profile & analytics

    115 Sandusky St Bellevue, OH 44811

    • Retail space
    • 3,042 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2024
    $225,000
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    5.8%
    Retail space
    Location Intelligence
    Property ID
    US66-1500625
    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

    • Branham Builders LLC / Construction Company
    • U-Haul Neighborhood Dealer / Trailer Rental Service / Truck Rental Agency
    • James C Davis IV - Ameriprise Financial Services, LLC / Investment Service / Financial Consultant

    Property Details for 115 Sandusky St

    Year built
    1909
    Lot size
    0.23 lot acres
    Property size
    3,042 SF
    Property type
    Retail space
    APN
    01-0030-02-024-0000
    APU
    10030020240000

    Description

    This exceptional 3,042 square foot Class A office space in downtown Bellevue offers a single-tenant occupancy in a beautifully renovated building (1909, renovated 2013). The property boasts a prime location with 115 feet of frontage on Route 20 and Route 269, providing excellent visibility and accessibility. Tenants benefit from a full-service gross lease, meaning all utilities, taxes, and insurance are covered by the landlord. High-speed fiber optic WIFI is included. The space features a 12-foot ceiling height, creating an airy and spacious atmosphere. Ample parking is available with 10 spaces on-site, supplemented by a nearby large city parking lot. Shared amenities include a large conference room, a well-equipped kitchenette, and handicap-accessible restrooms and hallways. The office space itself is fully furnished and ready for immediate occupancy; simply bring your business and begin operations. The building's zoning is designated as 429 OTHER RETAIL STRUCTURES. Natural light and quality craftsmanship are evident throughout this meticulously maintained space. Ohio Edison provides power to the building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $225,000
      ML approach
      $225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $220,000
      6.5%
      $200,000
      7%
      $185,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $176,000
      Market price range: $103k - $249k
      AI Estimate
      $246,000
      Market price range: $108k - $333k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $165,000
      Current use
      COMMERCIAL (GENERAL)
      $290,000
      Change: +77% Conversion: Easy
      OFFICE BUILDING
      $230,000
      Change: +39% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    Huron
    State
    Ohio
    Longitude
    -82.8389
    Latitude
    41.2727
    CBSA code
    35940
    CBSA name
    NORWALK, OH MICROPOLITAN 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
    $2,710
    $6,690
    $42,490
    $49,180
    -
    $19,100
    $121,410
    $140,510

    Comparable in this City

    • Value Estimation
      $260,000
      4,588 SF

      690 County Rd 308

      RETAIL STORES (PERSONAL SERVICES) • 4,588 SF
      690 County Rd 308, Bellevue, OH 44811
      View Details
    • Value Estimation
      $215,000
      2,925 SF

      107 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,925 SF
      107 Main St, Bellevue, OH 44811-1408
      View Details
    • Value Estimation
      $250,000
      1,722 SF

      113 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,722 SF
      113 Main St, Bellevue, OH 44811-1408
      View Details
    • Value Estimation
      $230,000
      2,466 SF

      205 Maple St

      RETAIL STORES (PERSONAL SERVICES) • 2,466 SF
      205 Maple St, Bellevue, OH 44811-1055
      View Details
    • Value Estimation
      $240,000
      3,176 SF

      100 Decker St

      RETAIL STORES (PERSONAL SERVICES) • 3,176 SF
      100 Decker St, Bellevue, OH 44811-1610
      View Details
    • Value Estimation
      $245,000
      1,200 SF

      128 Walter St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      128 Walter St, Bellevue, OH 44811-1056
      View Details

    Similar Nearby for Sale

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      1,450 SF

      Turnkey Bakery, Coffee, Sandwich Shop

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      Equipped Restaurant Building For Sale

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      Bellevue Office Building - Great Location!

      Prime Bellevue office, 1980 sq ft, 20 parking spots.
      1050 Castalia St, Bellevue, OH 44811
      View Details
    • $64,000
      2.67 Acres

      Residential Land in Bellevue, Ohio

      2.67 acres of residential land with development potential.
      Hartland Dr, Bellevue, OH 44811
      View Details
    • $405,000
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      Updated Medical Office Building

      Updated medical office on a large site with ample parking.
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      Bellevue Land for Agricultural Use

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    Similar Nearby for Lease

    • Contact for pricing
      6,057 SF

      Bellevue Retail Center - Main St.

      High-visibility retail space, ample parking.
      798 Main St, Bellevue, OH 44811
      View Details
    • $8 SF/Yr
      22,515 SF

      Bellevue Retail Center Opportunity

      High-traffic retail space available now
      250 Castalia St, Bellevue, OH 44811
      View Details
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    Bellevue, OH 44811
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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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