4920 Milan RdSandusky, OH 44870

Property Details for 4920 Milan Rd

Year built

2001

Lot size

3.77 AC

Property size (Sq ft)

21,236 SF

Property type

Retail properties

Property subtype

Strip malls

APN

32-03494-004

APU

3203494004

Description

Outback Plaza, a thriving 21,650 square foot retail strip center in Sandusky, Ohio, presents a prime leasing opportunity. Located at 4920 Milan Rd (cross street: Meijer Drive), this 2001-built center sits on a 4.31-acre lot and boasts 150 parking spaces, ensuring ample customer convenience. The property is zoned commercial (APN: 3203494004) and currently houses ten suites, with a minimum divisible space of 1,500 square feet. One 1,500 square foot unit is currently available for lease, offering a chance to join a successful tenant mix that includes established businesses such as Outback Steakhouse, H&R Block, and The Exchange. The strategic location provides excellent visibility and accessibility, directly connecting to major retailers like Starbucks, AT&T, Meijer, and the popular Great Wolf Lodge. A traffic signal at the intersection further enhances visibility and convenient access. A three-year minimum lease term is preferred. This property offers a strong investment opportunity in a high-traffic area with established businesses and significant foot traffic. The property's size, location, and existing tenant base make it an ideal location for a variety of retail businesses seeking high visibility and a strong customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $5,615,922

  6.5%

  $5,183,928

  7%

  $4,813,647

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,005,767

  Geo Method

  $5,005,767

• Alternative Use

  Use

  Valuation

  Residential

  $4,372,837

  Hospitality

  $4,005,495

  Educational

  $3,332,525

  Medical

  $3,447,136

  Retail

  $5,183,928

Location Insight

City

Sandusky

County

Erie

State

Ohio

Latitude

41.4088

Longitude

-82.6634

CBSA code

41780

CBSA name

SANDUSKY, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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