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    3612 Milan Rd Sandusky, OH 44870-5618
    Property profile & analytics

    3612 Milan Rd, Sandusky, OH 44870-5618

    View on Map
    • Grocery and convenience stores
    • 19,580 SF
    • 2.19 lot acres
    Off-Market
    Property ID
    US66-2864272
    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.
    Value Estimations
    $2,775,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ALDI / Specialty Food Shop / Supermarket

    Property Details for 3612 Milan Rd

    Year built
    2008
    Lot size
    2.19 lot acres
    Property type
    Grocery and convenience stores
    APN
    32-03356-009
    APU
    3203356009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 13, 2015 — Sandboro LP Sandboro LP Quit Claim Deed · related —
    Oct 24, 2012 $1,250,000 Sandboro LP Ptshp Sheriff Of Erie County Trustees Deed —
    Oct 16, 2006 $1,500,000 Jrsmi LLC Bechtel Mclaughlin INC Trustees Deed $1.5M · Home S&l/youngstown
    — — Sanboro LP — Deed Of Trust · related $763k · Citizens Bkng
    — — Sandboro LP — Deed Of Trust · related $180k · Sandusco INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,753,000
      Market price range: $925k - $2.75M
      AI Estimate
      $2,226,000
      Market price range: $794k - $2.23M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,980,000
      Current use
      RESTAURANT
      $2,990,000
      Change: +51% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,930,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.6795
    Latitude
    41.4244
    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
    $53,210
    $220,069
    $490,560
    $710,629
    -
    $628,770
    $1,401,600
    $2,030,370

    Comparable in this City

    • Value Estimation by Request
      800 SF

      1007 Farwell St

      CONVENIENCE STORE
      1007 Farwell St, Sandusky, OH 44870-3971
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    • Value Estimation
      $14,675,000
      109,181 SF

      226 Perkins Ave

      GROCERY, SUPERMARKET
      226 Perkins Ave, Sandusky, OH 44870-4905
      View Details
    • Value Estimation by Request
      3,927 SF

      3608 Venice Rd

      CONVENIENCE STORE
      3608 Venice Rd, Sandusky, OH 44870-1798
      View Details
    • Value Estimation
      $825,000
      12,234 SF

      317 Washington St

      GROCERY, SUPERMARKET
      317 Washington St, Sandusky, OH 44870-2819
      View Details
    • Value Estimation by Request
      1,713 SF

      411 Washington St

      CONVENIENCE STORE
      411 Washington St, Sandusky, OH 44870-2417
      View Details
    • Value Estimation
      $725,000
      3,935 SF

      3712 Columbus Ave

      CONVENIENCE STORE
      3712 Columbus Ave, Sandusky, OH 44870-7088
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,000 SF

      Grocery Store and Gas Station

      38,000 sq ft grocery store and gas station for sale.
      200 E Perkins Ave, Sandusky, OH 44870
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      Retail Store with Equipment Included

      Retail store with equipment, fixtures, and real estate for sale.
      423 W Perkins Ave, Sandusky, OH 44870
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      Commercial Property on Main Intersection

      Commercial property with two buildings and additional land parcels.
      513 E Perkins Ave, Sandusky, OH 44870
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      4,228 SF

      Sandusky Retail Opportunity

      Retail space available in Sandusky, Ohio.
      3321 Milan Rd, Sandusky, OH 44870
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Sandusky Retail Outparcel Opportunity

      High-traffic location, 1-acre lot.
      3700 Milan Rd, Sandusky, OH 44870
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      1,750 SF

      Downtown Sandusky Retail Space Available

      Retail space in downtown Sandusky, next to Firelands Credit Union.
      234 Columbus Ave, Sandusky, OH 44870
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      16,000 SF

      Sandusky Retail Space For Lease

      Retail space available in Sandusky's regional retail corridor.
      712-784 Crossings Rd, Sandusky, OH 44870
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      2,238 SF

      Retail Space in High-Traffic Center

      Inline retail space in Sandusky, OH, near major retailers.
      901-921 Crossings Rd, Sandusky, OH 44870
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    • Contact for pricing

      Retail Space on US 250

      Affordable, highly visible shopping center space for lease.
      3104 Milan Rd, Sandusky, OH 44870
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    • Contact for pricing
      21,593 SF

      Retail Space in Sandusky, OH

      Retail space available in well-maintained shopping center.
      709 W Perkins Ave, Sandusky, OH 44870
      View Details
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    Sandusky, OH 44870-5618
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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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