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    5606 Milan Rd Sandusky, OH 44870-5879
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    5606 Milan Rd Sandusky, OH 44870-5879

    View on Map
    • Drive through restaurants
    • 1,587 SF
    • 1.79 lot acres
    Off-Market
    Last Sale Jul 15, 2021
    $150,000
    Property ID
    US66-3656842
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sonic Drive-In / Restaurant / Take-out & Catering

    Property Details for 5606 Milan Rd

    Year built
    2010
    Lot size
    1.79 lot acres
    Property size
    1,587 SF
    Property type
    Drive through restaurants
    APN
    32-03469-000
    APU
    3203469000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandusky
    County
    Erie
    State
    Ohio
    Longitude
    -82.6573
    Latitude
    41.4024
    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
    $34,099
    $353,524
    $102,203
    $455,727
    -
    $1,010,070
    $292,010
    $1,302,080

    Comparable in this City

    • Value Estimation by Request
      2,760 SF

      4315 Milan Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,760 SF
      4315 Milan Rd, Sandusky, OH 44870-5384
      View Details
    • Value Estimation
      $1,540,000
      3,468 SF

      5018 Milan Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,468 SF
      5018 Milan Rd, Sandusky, OH 44870-5844
      View Details
    • Value Estimation by Request
      1,197 SF

      405 Perkins Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,197 SF
      405 Perkins Ave, Sandusky, OH 44870-4999
      View Details
    • Value Estimation by Request
      1,800 SF

      433 Perkins Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,800 SF
      433 Perkins Ave, Sandusky, OH 44870-4708
      View Details
    • Value Estimation by Request
      608 SF

      1027 Cleveland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 608 SF
      1027 Cleveland Rd, Sandusky, OH 44870-4055
      View Details
    • Value Estimation
      $555,000
      4,409 SF

      4637 Milan Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,409 SF
      4637 Milan Rd, Sandusky, OH 44870-5841
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Sandusky Restaurant Opportunity

      4,228 SF restaurant on 0.87 acres in Sandusky, OH.
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      4,625 SF

      Established Bar with Rental Income

      Turnkey bar with apartment, prime location, multiple revenue streams.
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      Bar, Airbnb, and Land

      Bar, apartment, Airbnb, garages on 1.53 acres.
      3005 Bardshar Rd, 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
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      38,000 SF

      Grocery Store and Gas Station

      38,000 sq ft grocery store and gas station for sale.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      4702 Milan Rd, Sandusky, OH 44870
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    • Contact for pricing

      Sandusky Retail Outparcel Opportunity

      High-traffic location, 1-acre lot.
      3700 Milan Rd, Sandusky, OH 44870
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      Sandusky Commercial Space For Lease

      Commercial space suitable for medical, professional, or neighborhood services.
      1304 Hayes Ave, Sandusky, OH 44870
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    • $10 SF/Yr
      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
    • Contact for pricing

      Downtown Sandusky Indoor Retail Space

      Indoor retail space in downtown Sandusky with shops and entertainment.
      133 E Market St, Sandusky, OH 44870
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    • Contact for pricing

      Storefront in Best Coastal Town

      Storefront perfect for retail or office space near Cedar Point.
      174 E Market St, Sandusky, OH 44870
      View Details

    Property Visit Statistics

    • Visits by month
      7.5k
    • Visitors by month
      7.5k
    • Avg Time on site
      13 min
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    Sandusky, OH 44870-5879
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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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