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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4201 Milan Rd Sandusky, OH 44870-5850

    • Strip malls
    • 10,200 SF
    • 1.33 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6298453
    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

    • Jimmy John's - Sandusky, OH / Caterer / Sandwich Shop
    • Cricket Wireless Authorized Retailer / Cell Phone Store
    • Amazon Hub Counter - AAA Sandusky / Mailing Service / E-Commerce Service
    • Commerce Plaza - Sandusky, OH / Shopping Mall
    • Clothes Mentor / Women'S Clothing Store

    Property Details for 4201 Milan Rd

    Year built
    2007
    Lot size
    1.33 lot acres
    Property size
    10,200 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    32-04588-000
    APU
    3204588000

    Description

    Commerce Plaza, located at 4201 Milan Rd in Sandusky, Ohio, presents a unique opportunity for businesses seeking high-visibility commercial space. This single-story, 10,200 square foot building, constructed in 2007, sits on a 1.33-acre lot in Erie County and is zoned for commercial use. The property boasts seven suites, with a minimum divisible space of 1,200 square feet and currently 3,000 square feet of vacant space available, including options for 1,500 or 3,000 square foot spaces. The building offers ample parking with 42 spaces available for tenants and customers. Its prime location on US 250 provides excellent visibility and accessibility, situated directly across from The Sandusky Mall and Target, ensuring high traffic volume and exposure. The property benefits from access to multiple traffic signals, further enhancing its accessibility. Currently, the building enjoys a diverse mix of tenants, anchored by Clothes Mentor. This is an exceptional opportunity to establish a presence in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $479,000
      Market price range: $184k - $480k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $345,000
      Current use
      OFFICE BUILDING
      $875,000
      Change: +154% Conversion: Moderate
      RETAIL STORES
      $790,000
      Change: +130% Conversion: Easy
      MEDICAL BUILDING
      $705,000
      Change: +106% Conversion: Difficult
      WAREHOUSE, STORAGE
      $490,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.6747
    Latitude
    41.4178
    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
    $44,264
    $214,070
    $377,541
    $591,611
    -
    $611,630
    $1,078,690
    $1,690,320

    Comparable in this City

    • Value Estimation by Request
      0.54 Acres

      Milan

      SHOPPING CENTER, STRIP CENTER • 0.54 Acres
      Milan, Sandusky, OH 44870
      View Details
    • Value Estimation by Request
      5,160 SF

      1176 Cleveland Rd

      SHOPPING CENTER, STRIP CENTER • 5,160 SF
      1176 Cleveland Rd, Sandusky, OH 44870-4036
      View Details
    • Value Estimation
      $635,000
      25,600 SF

      2215 Cleveland Rd

      SHOPPING CENTER, STRIP CENTER • 25,600 SF
      2215 Cleveland Rd, Sandusky, OH 44870-4485
      View Details
    • Value Estimation
      $860,000
      21,236 SF

      4920 Milan Rd

      SHOPPING CENTER, STRIP CENTER • 21,236 SF
      4920 Milan Rd, Sandusky, OH 44870-5899
      View Details
    • Value Estimation
      $1,665,000
      132,873 SF

      420 Perkins Ave

      SHOPPING CENTER, STRIP CENTER • 132,873 SF
      420 Perkins Ave, Sandusky, OH 44870-4909
      View Details
    • Value Estimation
      $645,000
      24,350 SF

      414 Perkins Ave

      SHOPPING CENTER, STRIP CENTER • 24,350 SF
      414 Perkins Ave, Sandusky, OH 44870-4909
      View Details

    Similar Nearby for Sale

    • $2,000,000
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      Prime Sandusky Retail Center

      Grocery, Gas, High Sales!
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      4,228 SF

      Sandusky Restaurant - 4,228 SF

      Prime Restaurant Space, Vacant, High Traffic Area
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    • $699,000
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      Milan Road Retail Opportunity

      Sandusky Restaurant/Storefront
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      Sandusky Restaurant Opportunity

      4,228 SF restaurant on 0.87 acres in Sandusky, OH.
      Sandusky, OH 44870
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    • $2,990,000
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      Sandusky Waterfront Storefront

      Prime Sandusky location, high tourism, investment opportunity.
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    • $430,000
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      Turnkey investment opportunity with commercial and residential units in booming Sandusky.
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    Similar Nearby for Lease

    • Contact for pricing
      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
      View Details
    • $7 SF/Yr
      1,633 SF

      Retail Space in Sandusky, OH

      Retail space available in well-maintained shopping center.
      709 W Perkins Ave, Sandusky, OH 44870
      View Details
    • Contact for pricing
      16,000 SF

      Sandusky Retail Space For Lease

      Retail space available in Sandusky's regional retail corridor.
      712-784 Crossings Rd, Sandusky, OH 44870
      View Details
    • Contact for pricing
      8,300 SF

      Retail Space in Sandusky, OH

      Retail space available in high-traffic Sandusky shopping center.
      5500 Milan Rd, Sandusky, OH 44870
      View Details
    • $10 SF/Yr
      5,541 SF

      Downtown Sandusky Retail Spaces

      Prime Retail, Family-Friendly Location
      133 Market St, Sandusky, OH 44870
      View Details
    • Contact for pricing
      4,228 SF

      Sandusky Retail Space For Lease

      Prime Retail Location, 4,228 sq ft
      3321 Milan Rd, Sandusky, OH 44870
      View Details
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    Sandusky, OH 44870-5850
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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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