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    1304 Hayes Ave Sandusky, OH 44870

    • Retail space
    • 3,500 SF
    • 0.27 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    $315,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0504284
    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

    • CloftS Corner Groceries & Ice Cream Parlor / Grocery Store / Ice Cream Shop
    • MONSTER KUTZ barbershop / Barber Shop
    • The Garden Of Edy / Artist
    • Freemade LLC / Barber Shop / Hair Salon
    • Top Threadz Streetware Boutique / Clothing Store

    Property Details for 1304 Hayes Ave

    Year built
    2013
    Construction
    FRAME
    Lot size
    0.27 lot acres
    Property size
    3,500 SF
    Property type
    Retail space
    APN
    57-04508-000
    APU
    5704508000

    Description

    This exceptional 3,500 square foot medical office building, constructed in 2013, is situated on a 1.4-acre lot at the corner of Hayes Avenue and Tyler Street in Sandusky, Ohio. The property boasts a convenient location adjacent to Firelands Regional Medical Center, ensuring high visibility and accessibility. The building features a single story with three suites, offering a flexible layout for various medical or professional businesses. Currently, one 1,000 square foot suite is immediately available for lease. The building is zoned commercial and has a total of 3,500 square feet, with a minimum divisible space of 1,000 square feet. The property's prime location offers excellent access to a traffic signal, ensuring high traffic flow and visibility. The lease rate of $10 per square foot is inclusive of common area maintenance and property taxes. Potential tenant improvement allowances may be available. The Erie County property (APN 57-04508.000) presents a unique opportunity for businesses seeking a well-maintained, strategically located space in a thriving medical corridor. This is an ideal location for medical-related offices, professional services, or neighborhood businesses. Inquire about potential tenant improvement allowances to customize your space. The property's address is 1304 Hayes Ave, Sandusky, OH 44870.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $413,000
      Market price range: $165k - $492k
      AI Estimate
      $315,000
      Market price range: $142k - $398k

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.7092
    Latitude
    41.4445
    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
    $4,429
    $3,822
    $61,250
    $65,072
    -
    $10,920
    $175,000
    $185,920

    Comparable in this City

    • Value Estimation
      $250,000
      0.05 Acres

      Wayne

      RETAIL STORES (PERSONAL SERVICES) • 0.05 Acres
      Wayne, Sandusky, OH 44870
      View Details
    • Value Estimation
      $110,000
      993 SF

      401 Shoreline Dr

      RETAIL STORES (PERSONAL SERVICES) • 993 SF
      401 Shoreline Dr, Sandusky, OH 44870-0900
      View Details
    • Value Estimation
      $290,000
      2,580 SF

      1528 Cp St

      RETAIL STORES (PERSONAL SERVICES) • 2,580 SF
      1528 Cp St, Sandusky, OH 44870-3161
      View Details
    • Value Estimation by Request
      800 SF

      1505 Campbell St

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      1505 Campbell St, Sandusky, OH 44870-3404
      View Details
    • Value Estimation
      $305,000
      2,252 SF

      1230 Hayes Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,252 SF
      1230 Hayes Ave, Sandusky, OH 44870-3342
      View Details
    • Value Estimation
      $535,000
      26,644 SF

      152 Columbus Ave

      RETAIL STORES (PERSONAL SERVICES) • 26,644 SF
      152 Columbus Ave, Sandusky, OH 44870-2502
      View Details

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    Similar Nearby for Lease

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      1,750 SF

      Downtown Sandusky Retail Space Available

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      234 Columbus Ave, Sandusky, OH 44870
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    • $10 SF/Yr
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      Hayes Ave Medical Office Space

      Sandusky, OH: Prime Medical Office Opportunity
      1304 Hayes Ave, Sandusky, OH 44870
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      Sandusky Retail Outparcel Opportunity

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      Sandusky Retail Build-to-Suit Opportunity

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      2806 Milan Rd, 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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