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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Office buildings
240 Columbus Ave Sandusky, OH 44870-2604
Entity Owned
Absentee Owner
Free & Clear
Property ID
US66-3567627
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1900
Total area
6,970 SF
Lot
0.18 ac (7,754 SF)
APN
56-01068-000
UPID
US66-3567627
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sandusky City Manager City Government Office
-
Sandusky City Hall City Government Office
-
Sandusky Building Permits City Government Office
-
Finance Department City Tax Office
-
Sandusky Housing & Nuisance City Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$647k
Blend (final)
Blend
$890k
Owner & transaction history
City Of Sandusky
City Of Sandusky
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+124.3%
Retail stores
$705,000
+48.7%
Commercial (general)
$685,000
+44.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sandusky submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sandusky submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,065,000
Change: +124% · Conversion: Moderate
RETAIL STORES
$705,000
Change: +49% · Conversion: Moderate
COMMERCIAL (GENERAL)
$685,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$890k
Range $801k – $979k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$128 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$23,726
Tax year 2023
Assessed value
$1,168,205
Assessed 2023
Previous assessed
$1,168,205
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$7,798
Assessed improvement
$1,160,407
Land market value
$22,280
Improvement market value
$3,315,450
Total market value
$3,337,730
Applied tax rate
56.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1900
Heating
YES
Cooling
YES
Buildings
3
Stories
4
Total area
6,970 SF
Lot
0.18 ac (7,754 SF)
APN
56-01068-000
UPID
US66-3567627
Jurisdiction
ERIE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$705,000
COMMERCIAL (GENERAL)
Est. value
$685,000
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
YES
Cooling
Yes
Stories
4
Buildings
3
Lot
0.18 ac
Current owner
From public records · entity-resolved
City Of Sandusky
Entity
Free & Clear · 0 yrs held
Mailing address
38025 2ND ST, WILLOUGHBY, OH 44094-6147
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2025
—
City Of Sandusky
Sandcity LLC
Deed
—
Oct 5, 2017
—
Sandcity LLC
—
Grant Deed
related
$9,215,000 · Nmtc Leveraged Xxxiii LLC
Sep 26, 2016
—
Sandcity LLC
Marous Dev LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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