Our hotel was the smallest, and most expensive, of the entire trip. That's because Venice is always comparatively expensive, plus it turned out our arrival date coincided with the start of Carnivale season in Venice. A week earlier and the same money would have gotten us a 4 star hotel right next to St Mark's. But this was still a great location - a quiet, quaint neighborhood away from the crowds of St Mark's and Rialto. But it was still just across the Accademia bridge and about a half mile walk to Piazza San Marco.
It was also a location we'd not likely stumble upon in a million years without directions. But with directions it was really quite easy to get to. There were two different "sotoportego" passages. That's where the "calle" (street) actually goes beneath the 2nd floor of a building that covers it. So you're essentially walking through a tunnel for a ways.