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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Retail space
5020 Milan Rd Sandusky, OH 44870-5844
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-0155893
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Total area
8,960 SF
Lot
1.13 ac (49,371 SF)
APN
32-03494-013
UPID
US66-0155893
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
-
The Forest Dispensary - Sandusky (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.55M
Owner & transaction history
5020 Milan Road LLC · 4 yrs held
5020 Milan Road LLC
since 2022
Last sale
$1.7M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+50.9%
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
$1,525,000
ML approach
$1,530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,370,000
Change: +51% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10% · vs last sale $1.72M (May 10 2022)
Last sale anchor
$1.72M
May 10 2022
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
$173 / 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
$35,758
Tax year 2023
Assessed value
$455,157
Assessed 2023
Previous assessed
$455,157
+0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$168,595
Assessed improvement
$286,562
Land market value
$481,700
Improvement market value
$818,750
Total market value
$1,300,450
Applied tax rate
32.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1992
Heating
YES
Cooling
YES
Stories
1
Total area
8,960 SF
Lot
1.13 ac (49,371 SF)
APN
32-03494-013
UPID
US66-0155893
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
$1.4M
RESTAURANT
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
1992
Heating
YES
Cooling
Yes
Stories
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
5020 Milan Road LLC
Entity
Mailing address
6400 POWERS FRY RD STE #100, ATLANTA, GA 30339-2907
Ownership since
2022
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
May 10, 2022
$1,720,000
5020 Milan Road LLC
Sandusky Pier Venture LLC
Limited Warranty Deed
$1,470,000 · 5020 Milan Road LLC
May 1, 2020
—
Sandusky Pier Venture LLC
Sandusky Pier Venture LLC
Quit Claim Deed
related
—
Feb 20, 2020
$1,300,000
Sandusky Pier Venture LLC
Fred Vogel Properties I LLC
Grant 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.
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