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317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo
317 E Washington Street, Sandusky, OH 44870 Photo

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317 E Washington Street Sandusky, OH 44870
$1,700,000
Active / MLS# 5260066 / Commercial - Retail / Sandusky
0 Beds

317 E. Washington St. presents an opportunity to acquire a newly renovated DG Market net lease investment located in the heart of downtown Sandusky, Ohio. Offered at $1,700,000, the 11,252 SF freestanding retail property is leased to DG Market (Dollar General) under a 10 year lease backed by a full corporate guaranty and offers a 6.00% going-in cap rate before annual lawn and snow expenses with a Net Operating Income (NOI) of $102,000. The lease includes 3 five-year renewal options, each featuring a 10% rent increase, providing built-in long-term rental growth. The tenant is responsible for property taxes, insurance and base rent, the landlord's obligations are limited primarily to snow removal and lawn maintenance. The property has recently undergone a comprehensive renovation, including new mechanical, electrical and plumbing (MEP) systems, new parking lot, upgraded 600-amp electrical service and a new membrane roof backed by a 10-year warranty. Originally built in 1946, the single story building sits on approximately 0.55 acres with 23 parking spaces, equating to approximately 2.04 spaces per 1,000 SF leased. Strategically positioned in downtown Sandusky, the property has excellent visibility with 143' of frontage along Washington Street, located just 2 blocks from Lake Erie and approximately 8 minutes from Cedar Point, one of the region's premier tourist destinations. Additionally, the property is located within an Opportunity Zone and is zoned DBD (Downtown Business District), a designation intended to support the city's role as a regional center for corporate businesses, cultural attractions, museums, professional sports, and other commercial activities. This offering combines the security of a nationally recognized corporate tenant, minimal landlord responsibilities, recent capital improvements, contractual rent growth, and a highly desirable downtown location, making it an attractive net lease investment opportunity. Seller is a licensed real estate agent.

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Property Details

Property Type: Commercial - Retail
Heating: Gas
Lot Size: 0.55 Acres
Roof Type: Rubber
Taxes: $10,700 / year
Year Built: 1946

Feature Descriptions

Building Features: Other, Private Restrooms
Parcel#: 56-00731-000
Parking: Parking Lot
Sewer: Public Sewer
Units: 1
Water: Public

Schools

School District: Sandusky City

Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.

Listed By / Shown By

Listed By

Agency Name: Ohio Broker Direct
Agency Contact: 614-989-7215, joan@ohiobrokerdirect.com

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